This year's Spring Meetings held by the World Bank and the International Monetary Fund, are underway in Washington. The gathering focuses on issues of global concern, including the global economic outlook, poverty eradication, economic development, and aid effectiveness. CGTN's Daniel Ryntjes has more.

DANIEL RYNTJES WASHINGTON "The IMF has delivered an upbeat assessment on prospects for the Asia-Pacific, forecasting growth of 5.6 percent for this year and next." 

CHANGYONG RHEE, DIRECTOR ASIA AND PACIFIC DEPARTMENT, IMF "The economic outlook for Asia-Pacific remains strong and the region continues to be the main growth engine of the global economy."

It's being driven by solid growth in China, India and Japan. But the Fund is warning that the region's exposure to global trade puts it at risk if the U.S. and China aren't able to resolve their trade differences.

CHANGYONG RHEE, DIRECTOR ASIA AND PACIFIC DEPARTMENT, IMF "Geopolitical tension could have serious repercussions on financial markets and on the real economy."

Globally public and private debt levels have risen to 225%, or $164 trillion in 2016. The IMF has singled out China's debt growth as a potential risk that is now being effectively addressed.

MARKUS RODLAUER DEPUTY DIRECTOR OF ASIA AND PACIFIC, IMF "These reforms are underway. They cannot be done in one or two years. They require a sustained long-term effort to address these risks. But overall we are quite optimistic that the authorities will again find a way through these challenges."

The longer term risks identified by the IMF are related to slowing productivity, the automation of many jobs and the idea that Asia becomes old before it becomes rich.

DANIEL RYNTJES WASHINGTON "But the IMF says Asia is taking advantage of the opportunity to use developments in the digital economy to broaden opportunities and financial inclusion. And turning to Latin America, the IMF sees growth rate around 2 percent, that has been weighted down somewhat by the crisis in Venezuela but boosted by the strong performance of Brazil which is seeing the growth rate above 2 percent. Daniel Ryntjes, CGTN, Washington."