ne takeaway from the IMF’s World Bank’s annual report is that everyone is growing and there is no recession in sight for at least the next two years, despite the constant hemming and hawing about it in some segments of the financial media.

The World Bank published its Global Economic Prospects report for 2020 Wednesday, and almost everyone is growing—everyone that is except Argentina, Iran and much poorer countries like Haiti.

Argentina’s economy is projected to contract 1.3%, with Haiti contracting 1.4%. Iran growth is seen flat at the moment, at 0%, though that will surely change as President Trump announced tougher sanctions against the Persian nation on Wednesday. U.S. officials are set to meet with their European counterparts in the days ahead to discuss ways to pressure Iran back to the negotiating table on the broken nuclear power deal.

One takeaway from the annual report is that everyone is growing and there is no recession in sight for at least the next two years, despite the constant hemming and hawing about it in some segments of the financial media.

Overall global growth for 2020 is forecast to reach 2.5%, up from 2.4% estimated in 2019. The World Bank has global growth inching up in 2021 to 2.6% and in 2022 to 2.7%.