IMF Cuts Forecast for Global Growth as Trade War Takes Toll

  • The IMF cut its forecast for global growth to 3.7% for this year and next, down from 3.9% previously.
  • It blamed escalating trade tensions and stresses in emerging markets for the reduction.
  • The policy lender warned of a recession in Argentina and slower growth in Brazil, while calling for sweeping reforms to shield Turkey’s economy following the recent drop in the lira.
  • Pakistan, meanwhile, has said that it will seek the country’s 13th IMF bailout since the late 1980s

Source: Bloomberg