In the latest update to its World Economic Outlook, the IMF cut the global growth estimate for 2020 to 3.3 percent, 0.1 percent lower than in the prior report released in October. IMF chief Kristalina Georgieva pointed to India's struggles with declining consumption and investments, budget deficits and delays in making structural reforms. "The risk of protracted subpar global growth remains tangible despite tentative signs of stabilizing momentum," the fund warned in its quarterly report. Meanwhile, the IMF trimmed US growth just a tenth to 2.0 percent this year, and to 1.7 percent in 2021. In its previous analysis, the IMF estimated that trade conflicts and tariffs cut 0.8 percentage points off of global growth.
Source: New Strait Times January 20, 2020 16:41 UTC