IMF cuts 2019 global growth estimate to 3%

IMF downgrades world growth, warns of ‘precarious’ 2020

Gita Gopinath

 

The world economy is slowing to its weakest pace since the global financial crisis, amid continuing trade conflicts that have undercut business confidence and investment, the IMF said Tuesday.

It cut the growth forecast for 2019 to 3.0 per cent in its latest World Economic Outlook report, and lowered the 2020 estimate to 3.4 per cent.

The report warned that the global economy is experiencing “a synchronized slowdown and uncertain recovery.”

International Monetary Fund chief economist Gita Gopinath said, “The global outlook remains precarious” and warned “there is no room for policy mistakes.”