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

Pakistan to seek IMF bailout to overcome financial crisis

Pakistan to seek IMF bailout to overcome financial crisis

The global crisis lender, which in Indonesia this week is staging its annual meetings with the World Bank, cut its outlook for global GDP on Monday by two tenths to 3.7 per cent through next year.

The revised estimates includes a worsening outlook for developing economies this year and next compared to the July report, as well as downgrades for the United States and China in 2019.

Last year, China shipped goods worth $375 billion more to the US than it took in from the United States, a figure Trump has often said he wants to curb sharply in an effort to promote American businesses. The IMF also revised down its growth forecast for the country for next year to 2.6 percent, down 0.3 percentage point from its earlier estimate.

U.S. Treasury Secretary Steven Mnuchin is expected to meet with global finance officials in Indonesia this week during IMF and World Bank summits, though as of Monday he had no meetings scheduled with Chinese officials - as reported by Reuters. "Trade tensions have emerged, and a further escalation may damage market sentiment and significantly harm global growth", it said. The Trump administration has penalized almost half of all imports from China and has threatened more for the other half.

The International Monetary Fund has raised Russia's gross domestic product (GDP) growth forecast to 1.8 percent for next year as it cuts its global forecasts.

The report also takes stock of global regulatory reform 10 years after the global financial crisis.

Thor Equities CEO Joe Sitt on the increasing US trade tensions with China.

It said that the composition of spending and revenues should be growth friendly and protect the most vulnerable.

The report analysed China's public balance sheet and found that its general government net financial worth has deteriorated in recent years to about 8 per cent of GDP, largely because of subnational borrowing and underperforming public corporations.

The IMF outlook already projects global growth will slow to 3.6 percent during 2022 - 2023.

Overall, global growth will remain steady - about 3.7 percent this year - and exceed that of 2012-2016.

The three major economies of Africa: Nigeria, South Africa and Angola are projected to witness sluggish growth in 2019 and beyond, the International Monetary Fund (IMF) has said.

As interest rates rise in advanced economies, prompting investors to take their money in search of higher returns, the IMF said emerging economies should take steps to insulate themselves from an exodus of funds.

Short-term risks to global financial stability have increased "modestly", the Washington-based lender said.

U.S. stimulus also adds to the "already-unsustainable" debt and deficit that will undercut future growth, the report warns. "Notwithstanding the present demand momentum, we have downgraded our 2019 USA growth forecast owing to the recently enacted tariffs on a wide range of imports from China and China's retaliation".