Imf Warns Of 'somewhat' Greater Global Financial Risk

IMF predicts India will grow at 7.3% in 2018-’19

IMF Raises Russia's GDP Growth Forecast to 1.8% in 2019

International Monetary Fund (IMF) chief Christine Lagarde on Thursday defended central bank rate hikes in a veiled rebuke to Donald Trump after the USA president blamed "crazy" Fed policies for contributing to financial market turmoil.

The IMF announced it had reduced its outlook on the global economy to a 3.7% growth rate for this year and next, down 0.2% from what it had originally predicted in July.

The annual financial meetings take place at a time of growing concern over trends other than trade, such as moves to raise borrowing costs in the USA and some other regions to help cool growth and keep inflation in check. Nor does it meet the third criterion of engaging in persistent, one-sided intervention in the foreign-exchange market, which the US Treasury defines as being when "net purchases of foreign currency are conducted repeatedly and total at least 2 per cent of an economy's GDP over a 12-month period".

Whilst Forbes sees Nigeria's economy as the most performed in Africa in 2018 with good prospects for 2019, International Monetary Fund reports a sluggish growth and perhaps a stunted economy by 2019.

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It predicted 2.9 percent US growth this year, dropping to 2.5 percent next year, and to 1.8 percent in 2020, as the effect of USA tax cuts wears off and the trade war with China inhibits growth.

"In the United States, momentum is still strong as fiscal stimulus continues to increase, but the forecast for 2019 has been revised down due to recently announced trade measures, including the tariffs imposed on $200 billion of USA imports from China", IMF report said.

IMF Chief also confirmed the news of meeting with the Minister and other Pakistani officials and said in a statement, "During the meeting, they requested financial assistance from the IMF to help address Pakistan's economic challenges".

"But even across emerging markets, we see a lot of differentiation".

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She said this requires an assessment of both sovereign and state enterprise debt to actually determine the debt sustainability of a country as financing programs are considered.

In the fund's latest Global Economic Outlook, it estimated that the South African economy would grow by 0.8% this year, down from its initial projection of 1.5% in April.

China's economy could also take a hit: The IMF revised its forecast for economic growth in 2019 down to 6.2 percent, slightly lower than previous estimates and down from 6.6 percent this year. "And we've canceled a couple of meetings because I say they're not ready to make a deal".

Her comments come as a trade spat between China and the United States threatens economic growth around the world, with International Monetary Fund experts warning of "new vulnerabilities" in the global system.

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A U.S. Treasury official on Monday repeated that the Trump administration was concerned about the yuan's recent weakening as the department prepares a semi-annual report on currency manipulation due out next week.

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