International Monetary Fund upgrades outlook on Russian Federation as economy recovers

International Monetary Fund upgrades outlook on Russian Federation as economy recovers

Senior Pakistan Tehreek-i-Insaf (PTI) leader Ali Zaidi said that the jump in the exchange rate would "affect everyone, even us ministers".

Global trade is projected to expand by 4.2 per cent this year - 0.6 per cent less than expected in July - dropping to four per cent next year.

Given a weaker than expected performance in the first half of this year, the growth estimates for the eurozone were revised down 0.2 point to 2.0 percent in 2018.

The IMF warned that China's growth even risked declining by a full percentage point by next year in the event of a "worse-case" scenario, involving further tariffs coupled with a collapse in confidence by businesses and markets.

The US-China trade war will affect global growth, the International Monetary Fund warned Tuesday, cutting its forecast for this year and next and predicting that "everyone is going to suffer" from a clash between the world's two biggest economies. -China tariff war's impact to be felt next year, the fund cut its 2019 USA growth forecast to 2.5 percent from 2.7 percent, while it cut China's 2019 growth forecast to 6.2 percent from 6.4 percent.

"Owing to these changes, our global growth projections for both this year and next are downgraded to 3.7 per cent, 0.2 percentage point below our last assessments and the same rate achieved in 2017", the report said.

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Others think that he’ll continue to use the picks himself and construct a young core that can emerge after the Cavaliers vs. Fultz is an ideal scoring guard to run alongside him, and can also take over point guard duties if the Simmons experiment fails.

When the US dollar strengthened earlier this year, investors feared emerging market economies could be in trouble. The IMF said last week that recent government efforts haven't been sufficient to stem a looming crisis. It predicted China's GDP growth at 6.6% in 2018-'19 and downgraded it to 6.2% for 2019-'20.

Some energy-rich emerging market countries have fared better due to higher oil prices, with Saudi Arabia and Russian Federation receiving upgrades to growth forecasts.

While tax cuts and increased spending have seen an immediate upswing in U.S. growth, the International Monetary Fund warned that the country could face an unwelcome "inflation surprise", which would prompt the Federal Reserve, America's central bank, to hike rates at a faster-than-expected pace. Bond markets were closed, leading US indexes to a mixed finish after a day of light trading.

ANALYST'S TAKE: "Renewed tension between the US and China has capped risk sentiment as a range of issues from trade to diplomacy are likely to challenge China-US relationship", Zhu Huani of Mizuho Bank said in a commentary.

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 U.S. imports from China.

The repercussions for the United States and China would be particularly severe, with 2019 GDP losses of more than 0.9 percent in the United States and 1.6 percent in China in 2019. It also assumes that Trump imposes a 25 percent tariff on imported cars and auto parts.

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