TSX starts lower on global growth worries

Pompeo has openly expressed his reservations about bailing out a former non-NATO ally

The growth rate of United States for 2018 is 2.9 per cent and that of 2019 has been powered to 2.5 per cent.

"But there is no denying that the susceptibility to large global shocks has risen", Obstfeld said.

"There are clouds on the horizon", Obstfeld added.

The IMF report said "protectionist rhetoric" was being "increasingly turned into action", warning such uncertainty "could lead firms to postpone or forgo capital spending and hence slow down growth in investment and demand". "Several of the downside risks highlighted in the April 2018 World Economic Outlook (WEO) ... have become more pronounced or have partially materialized".

U.S. Treasury Secretary Steven Mnuchin is expected to meet with worldwide 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. "More broadly, we're concerned about China's turn away from more market-oriented policies and continued reliance on non-market mechanisms that impact the macroeconomic and trade environment". "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".

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The IMF's cut to its outlook was broad-based.

That includes President Donald Trump´s imposition of tariffs on $250 billion in Chinese goods, as well as on aluminum, steel and other products worldwide. The IMF projections don't take into account Trump's threat to expand the tariffs to effectively all of the more than $500 billion in goods the USA bought from China previous year.

The IMF also predicted that Bangladesh's consumer prices would reach 5.8 percent at the end of this year and 6.1 percent next year. Less than 1 percent of the nation's more than 200 million people file tax returns and its exports, including textiles, lag the region.

Mr Khan's decision came after the Pakistani stock markets tumbled by 3.4 percent on Monday after Mr Khan said the day before that he was still exploring options outside the International Monetary Fund. Core inflation, which excludes volatile items such as energy, will vary from country to country, it said.

It's so concerned about the potential for a bad deal it has downgraded global economic growth to 3.7% for both 2018 and 2019, in its latest World Economic Outlook. "The Pakistan market was down by more than 3 percent due to margin calls and lack of clarity on the International Monetary Fund or other funding", Muhammad Sohail, CEO of Topline Securities, told Arab News.

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