IMF cuts global growth forecast to 3.7% for 2018, 2019 as risks rise
An upswing in economic risks due to rising trade tensions and record debt levels has prompted the International Monetary Fund to cut its forecast for world growth for 2018 and 2019.
With trade expansion set to slow sharply amid a US-China trade war, the IMF cut its outlook for global growth by two tenths to 3.7 percent this year and next, according to the quarterly World Economic Outlook Report released late Monday.
The revised estimates include a worsening outlook for developing economies compared to the July report, as well as downgrades for the United States and China in 2019.
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