According to the study, weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 percent pace, from 2.4 percent growth in 2015, as advanced economics gain speed.
Forecasts are subject to substantial downside risks. A more protracted slowdown across large emerging markets could have substantial spillovers to other developing economies, and eventually hold back the recovery in advanced economies.
A broad-based slowdown across developing countries could pose a threat to hard-won gains in raising people out of poverty, the report warns.
Download the Global Economic Prospects report.