The International Monetary Fund has cut its forecast for global growth as trade tensions intensify and currency and other woes impact emerging economies. The global lender projects that the world economy will expand by 3.7% this year and next, 0.2 percentage point lower than its previous forecast six months ago.
Prospects for the global economy are looking brighter, according to the International Monetary Fund (IMF), arguing that the recent pick-up has been pretty broad-based, particularly in Europe and Asia. Tax reforms in the United States are expected to stimulate economic activity, especially business investment.
The International Monetary Fund has named as its new chief economist Maurice Obstfeld, an academic and White House economic adviser known for his work on money flows and international finance.