World on the brink of economic storm, IMF warns all countries
The International Monetary Fund (IMF) warned the world about global economic growth. The IMF has warned governments around the world and asked to be ready to face the crisis arising out of expectations of economic growth.
IMF Managing Director Christine Langder said at the World Government Summit held in Dubai, "We are looking at an economy that is growing at a much lower rate than expected." Last month, the IMF reduced the forecast of this year's global economic growth to 3.5 percent from 3.7 percent.
Lathard called those factors the reason for the slowdown of the global economy, which she has been describing as 'four clouds' hovering above the economy. She warned that the storm could rise ever.
She said that these risks includes business tensions and increase fees, strictering in fiscal situation, uncertainty about breakage and speeding up the slowdown of China's economy. She said that the world's two top economies continue to see the global impact of duty war between the United States and China.
Advising the governments to avoid protectionism, the IMF chief said, "We have no idea about how it is going to end and whether it has started impact to show on business, confidence and market ." Lagarede also called the increased cost of debt as a risk. She said, "When there are so many clouds, there is a lot of lightning to start the storm."
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