visimoney
A new article on FinTech Magazine discusses the impact of foreign exchange (FX) volatility on businesses and offers insights into the outlook for 2024. The article features an interview with Jennifer Parker, EVP & Chief Commercial Officer at Convera, and Steven Dooley, Head of Market Insights at Convera.
TLDR:
- Convera conducted a survey of global businesses and found continued concern about high interest rates, inflation levels, geopolitical concerns, and credit conditions.
- FX volatility can have a significant impact on a business’s bottom line and cash flow, so executives need to remain focused on this issue in 2024.
- Economic growth is expected to slow down in 2024 after a stronger-than-expected 2023, with the threat of recession still looming.
- Convera forecasts global growth to be around 1.95% for the year, which is concerning given that sub-2% growth globally is unprecedented outside of crisis periods.
In the interview, Parker highlights the concerns of businesses trading globally, including high interest rates, inflation, geopolitical issues, and credit conditions. She emphasizes that macroeconomic uncertainty remains a top concern for businesses in 2024.
Parker also explains that FX volatility has a significant impact on businesses’ bottom lines and cash flow. Executives need to remain focused on managing this volatility as they navigate 2024.
Dooley discusses the economic outlook for 2024 and predicts a slowdown in economic growth. He notes that although there was no recession in 2023, there are concerns that one may occur in 2024. Conver suggests that global growth in 2024 will be around 1.95%, which is concerning given that sub-2% growth globally is unprecedented outside of crisis periods.
The article also provides a video link to the full interview with Parker and Dooley, as well as a link to Convera’s global outlook report for 2024.
Overall, the article highlights the ongoing concerns of businesses regarding macroeconomic uncertainty and the impact of FX volatility. It also underscores the potential slowdown in economic growth in 2024 and the need for businesses to remain vigilant in managing these challenges.
