The global economy is in the midst of an economic slowdown coupled with all

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its attendant problems, including inflationary pressures, Prime Minister Manmohan Singh said in a statement released on Wednesday ahead of his visit to New York to attend a United Nations General Assembly meeting.

"More than ever before, it is imperative for all countries to act in concert to address these challenges," Singh said.

Singh will also hold bilateral meetings with presidents of Iran, South Sudan and Sri Lanka and the prime ministers of Japan and Nepal.