The IMF again downgrades outlook for the global economy

The IMF again downgrades outlook for the global economy

It left 2018 growth forecasts for the two countries unchanged at 2.9 percent for the US and 6.6 percent for China.

"Historically, Pakistan has achieved 3 to 3.5 percent growth rate in the first two to three years whenever we availed the International Monetary Fund program", Aslam said, adding: "It would be a big achievement if we maintain growth at 3.5 percent".

This acceleration reflected a rebound from transitory shocks (demonetisation and implementation of the GST), with strengthening investment and robust private consumption, it said. China was the fastest-growing economy in 2017. That's a significant downgrade from the IMF's assessment in April, when it projected a 3.9 percent growth rate.

"Although risks are balanced, uncertainty remains substantial around the baseline assumptions for oil prices because Saudi Arabia's spare capacity is shrinking and USA sanctions against Iran will both weigh on Iran's oil production prospects in the medium term and reduce Iran's crude exports in the short term, requiring others with spare production capacity to step in".

"Owing to these changes, our worldwide 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.

It kept the 7.3 per cent growth projection for this year made in July. Real GDP growth was recorded at 2.6 percent in 2010, 3.6 percent in 2011, 3.8 percent in 2012, 3.7 percent in 2013, 4.1 percent each in 2014 and 2015, 4.6 percent in 2016 and 5.4 percent in 2017.

"We are concerned about the downturn in economic growth", noted Jubilee USA Executive Director Eric LeCompte.

Australia Will Keep Burning Coal To Produce Electricity Despite Stern IPCC Warning
Emissions will need to fall 45 per cent from 2010 levels - or 58 per cent from current levels - by 2030, the IPCC said . Australian Conservation Foundation chief executive Kelly O'Shanassy called on the government to change tactics.

Melania On #MeToo: We Should Support Men, ‘Not Just Women’
The interview came in the wake of the controversial hearings in which Justice Brett Kavanaugh defended himself from allegations of sexual assault in the early 1980s.

International Monetary Fund gives credit for reforms under Modi, projects India as fastest growing
The S&P 500 index edged 0.1 percent lower to 2,884.43, while the Dow Jones Industrial Average gained 0.2 percent to 26,486.78. The Trump administration has penalized almost half of all imports from China and has threatened more for the other half.

The euro area will expand 2 per cent this year, down 0.2 point from July, as a result of weaker-than-expected growth in the first half of the year.

The financial market volatility will likely continue next year, because the US Federal Reserve, after raising the federal funds rate by 25 basis points in its September 26 meeting, nonetheless signaled another rate hike by the end of this year and maintained its projection for three rate hikes in 2019.

"However, further reforms are needed to increase policy certainty, improve the efficiency of state-owned enterprises, enhance flexibility in the labour market, improve basic education, and align training with business needs", it stated.

The IMF also risks associated with high corporate debt, rising nonperforming loans and too much public debt overall. "These efforts should be supported by further reductions in subsidies and enhanced compliance with the Goods and Services Tax".

In addition to the trade barriers, the International Monetary Fund said higher interest rates are also contributing to slowed economic growth.

If pressures on emerging market economies were to broaden and intensify, financial stability risks would increase significantly, he said.

Related News:

  • Google announces its first tablet in three years, the Pixel Slate

    Google announces its first tablet in three years, the Pixel Slate

    The Pixel 3 and its big brother also have a dedicated security chip - the Titan M, which keeps the OS and your passwords secure. The Pixel 3 and Pixel 3 XL obviously both ship with the latest and greatest version of Android, which is Android 9.0 Pie.

    Scientist: Tuesday, October 8, meteor shower Draconid will be the most active

    According to EarthSky.org, the Draconid meteors burst out into the skies near the Draco stars of Eltanin and Rastaban. The Draconids are best seen in the evening hours when the skies are darkening enough to pick out individual meteors.
    Virgil van Dijk on the games which will define Liverpool’s title bid

    Virgil van Dijk on the games which will define Liverpool’s title bid

    Van Dijk was relieved his mistimed tackle on Leroy Sane did not prove too expensive as Liverpool and City drew 0-0. I [asked] him: "'Big one?' and he said: "'I don't think so, but big enough that I go off'".
  • Climate report understates threat

    Climate report understates threat

    The impacts of 1.5°C of warming and the possible development pathways by which the world could get there are its main focus. For instance, the Arctic is already experiencing warming that is many times higher than the global average.

    Ignore even more phone calls with Google's 'call screen' feature

    Google says the Pixel Visual Core chipset that handles imaging is back but we are not sure if this is the same or an upgraded one. The new large-sized displays and other features of the smartphones are definitely the aspects that will draw maximum attention.
    USA  intercepted Saudi plans to capture missing journalist, report says

    USA intercepted Saudi plans to capture missing journalist, report says

    He has been critical of some policies of the Saudi Crown Prince Mohammed bin Salman and Riyadh's intervention in the war in Yemen. Turkish President Recep Tayyip Erdogan has demanded Saudi Arabia explain what happened to Khashoggi, whom he called a "friend".
  • Vitamin D supplements are declared useless

    Vitamin D supplements are declared useless

    Supplements are advised in particular for those with bone conditions such as osteoporosis , which typically affects older people. Vitamin D supplementation was shown to have no effect on total fracture, hip fracture or falls.
    DUP 'could vote against the Budget' over Brexit deal

    DUP 'could vote against the Budget' over Brexit deal

    Earlier in the day, she told BBC Radio Ulster that it is "eminently possible" to reach a Brexit deal that "works for everyone" with weeks.
    Google's Pixel 3 event in 6 minutes

    Google's Pixel 3 event in 6 minutes

    Beyond the tablet experience, the Pixel Slate can be paired with the Pixel Slate Keyboard, which is a folio-style keyboard cover. Both Pixels run Google's Android 9.0 OS and offer dual front-facing cameras and wireless charging for the first time.
  • Supercharged overnight, Hurricane Michael menaces Florida

    Supercharged overnight, Hurricane Michael menaces Florida

    This is a serious situation for the Florida Panhandle and downstream areas in southeastern Alabama, Georgia, and the Carolinas. A red flag, warning of unsafe conditions, is seen as Hurricane Michael approaches Panama City Beach, Florida, U.S.
    Dubai Test: Finch, Khawaja dominate Pakistan with half centuries

    Dubai Test: Finch, Khawaja dominate Pakistan with half centuries

    That was enough for Langer to confirm one-day specialist Finch and South Australia skipper Head would play their first tests . Hafeez registered a century as he and his opening partner Imam-ul Haq (76) shared a 201-run partnership for the first wicket.
    Apple Watch Daylight Savings bug causes crashes in Series 4 models

    Apple Watch Daylight Savings bug causes crashes in Series 4 models

    The Watch costs $399 and comes with top features like ability to take ECG, fall detection, improved speaker, watch OS 5 and more. According to 9To5Mac report, the issue is happening because the watch face is active with the Activity complication.


Most liked

Google Pixel 3 to launch on November 2nd in France, retailer claims
Gboard, the keyboard built into your Pixel 3, will recommend GIFs, stickers and more, to make your conversations fun and engaging. What's important is that the ppi - pixels per inch - remains high so that the display is capable of showing fine details.

Fabinho speaks out after quiet start to Liverpool career
But under their new manager Unai Emery, the Gunners have made sure they keep a close eye on the league leaders and now just 2 points behind them.

Heat interested in restarting Butler trade talks
As the GM watched on the sidelines during a scrimmage, sources said that Butler yelled to Layden: "You f--ing need me, Scott". Butler had previously been excused from training camp and preseason games as the team dealt with his trade request.

Prince William Makes a Corny Dad Joke at Kate Middleton's Expense
Last month Prince William opened up about the emotional toll of witnessing suffering during his time as an air ambulance pilot. Kate Middleton and Prince William stepped out in London on Tuesday to attend the Global Ministerial Mental Health Summit .

Sydney at odds over horseracing adverts on opera house roof
NSW Premier Gladys Berejiklian has backed Alan Jones' position in favour of horse race advertising on the Sydney Opera House. Why not put it on the biggest billboard Sydney has", Morrison, a former head of Tourism Australia, told reporters.

McConnell says challenging Trump in 2020 'a waste of time'
Add Supreme Court as an interest to stay up to date on the latest Supreme Court news, video, and analysis from ABC News. And on Monday evening he was the guest of honour at a ceremonial swearing-in at the White House.

Classic Zelda on Nintendo Switch Online gets easier with special save data
They also begin the game with all equipment, including the White Sword, the Magical Shield, the Blue Ring, and the Power Bracelet. It features Mario, Luigi, and other familiar characters.

Trump Administration Examines Path to Waive Iranian Oil Sanctions
Iran was exporting between 2.5 and 2.7 million bpd in April before the USA announced the return of sanctions. India is the world's third-largest oil importer, and Iran's second-biggest oil customer after China.

Five killed in torrential rainstorms in Majorca
Other victims were found in Arta and the coastal town of S'illot, where the overflowed creek reaches the sea. Antonia Bauza, the deputy mayor of Sant Llorenc, confirmed two of the victims were British nationals.

Pet Sematary Trailer: What’s Dead Should Stay Dead
Check out the trailer below and get ready because very soon we'll have a full report from the set of the Stephen King adaptation. Jason Clarke and Amy Seimetz play Louis and Rachel Creed, the mom and dad of a young family that's new to this country road.

Baddeleys Narrow Miss At Safeway Open
Kevin Tway hit three consecutive birdies in the play-off to seal his first PGA Tour title at the Safeway Open in California.

Top US cardinal "welcomed" pope's steps to address sex abuse
McCarrick escaped being sanctioned because "at that time, unlike today, there was not sufficient proof of his alleged guilt". Since then, another man has come forward saying McCarrick molested him when he was a young teen.

XXXTentacion's Mom Accepts Post-Humous Award at 2018 AMAs
Additionally, several of gospel and R&B's heaviest hitters will assemble for what's sure to be a touching Aretha Franklin tribute. The singer racked up wins for favourite pop/rock album for " reputation ", tour of the year , and artist of the year .

Gov. Scott issues state of emergency for Panhandle
Leslie continues as a tropical storm over the Central Atlantic , but is forecast to briefly become a hurricane again. In Polk County, the hurricane could produce tropical-storm-force winds, along with a smattering of rain.

Japan now has the world's most powerful passport
As a result, while SA is ranked at 52, there are actually 95 countries with stronger-rated passports on the index. The Henley Passport Index measures how many countries each passport allows its holders to access visa-free.