Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Monday, December 17, 2018 05:08:06 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

IMF lowers global growth outlook to 3.7pc

By
10th-Oct-2018       
Comments
Share your thought
Post a comment »
Read all () »

Business Desk :
The International Monetary Fund (IMF) has projected 3.7 percent global economic growth for fiscal 2018-19, which is 0.2 percent lower than its previous forecast in April.  IMF released the new report in the Indonesian resort island of Bali on Tuesday where the IMF and World Bank annual meetings are set to be held.  The report says momentum is still strong as fiscal stimulus continues to increase in the United States, but the forecast for 2019 has been revised down due to recently announced trade measures, including the tariff imposed on US$ 200 billion import of the US from China.  The downgrade reflects a confluence of factors, including the introduction of import tariff between the United States and China, weaker performances by eurozone countries, Britain and Japan, and rising interest rates that are pressuring some emerging markets with capital outflows, notably Argentina, Brazil, Turkey, South Africa, Indonesia and Mexico.  In a statement, IMF chief economist Maurice Obstfeld said: "Notwithstanding the present demand momentum, we have downgraded our 2019 US growth forecast owing to the recently enacted tariffs on a wide range of imports from China and China's retaliation."
"Last April, at the time of our last World Economic Outlook, the world economy's broad-based momentum led us to project a 3.9 percent growth rate for both this year and next."
Considering developments since then, however, Obstfeld said, that number now appears overoptimistic.
The IMF chief economist said: "China's expected 2019 growth is also marked down. Domestic Chinese policies are likely to prevent an even larger growth decline than the one we project, but at the cost of prolonging internal financial imbalances".
Overall, compared with six months ago, projected 2018-2019 growth in advanced economies is 0.1 percentage point lower, including downgrades for the euro area, the United Kingdom, and Korea, he said.  Obstfeld said the negative revisions for emerging market and developing economies are more severe, at minus 0.2 and minus 0.4 percentage point respectively for this year and next year.

Tariff
Add Rate

News Archive

Inside The New Nation

Cricket »

Sri Lanka 275-9 at stumps on day 1, 1st Test vs New Zealand


AP, New Zealand :Tim Southee took 5-67 as New Zealand exploited an influential toss to contain Sri Lanka to 275-9 Saturday on the first day of the first cricket Test at the Basin Reserve.A late unbeaten half century by wicketkeeper Niroshan Dickwella helped swing the day a little in Sri ...

Football »

Salah retains BBC African Footballer of the Year award


Liverpool and Egypt striker Mohamed Salah has capped a sparkling 2018 for club and country by winning the prestigious BBC African Footballer of the Year Award for the second time in a row."It's a great feeling to win again. I'm happy and I would like to win it also next ...

Entertainment »

Soundarya Sharma is going to have an exceptional time this festive season


Actress Soundarya Sharma who made her stellar debut in Ranchi Diaries, a Comedy thriller film, and got a thumbs up from the critics and audience and awarded as the ‘Best Debutante’ at Jharkhand international film festival 2018. She was nominated for the ‘Best Female Debutante’ by Zee Cine Awards 2018 ...

Entertainment »

Ishana in four plays under same director’s direction


Sheikh Arif Bulbon :Popular TV actress of present time Ishana Khan has worked in four faction plays under same director's direction. She has finished shooting of these four plays under Satirtho Rahman Rubel’s direction. Shooting of these plays took place in Darjeeling from November last week to December first week. ...

Editorial »

No room for self-satisfaction, success needed in other fields too


THE nation celebrates the 48th Victory Day today amid festivity. Today, the nation will remember its glorious historical achievement earned through a nine-month war against Pakistan Occupation Forces in 1971. The nation will recall today, Bangladesh was born as an independent country under the leadership of Father of the Nation ...

International »

Australia recognises west Jerusalem as capital of Israel


Australia now recognises west Jerusalem as Israel's capital, Prime Minister Scott Morrison said Saturday, but a contentious embassy shift from Tel Aviv will not occur until a peace settlement is achieved.Canberra became one of just a few governments around the world to follow US President Donald Trump's lead and recognise ...

International »

Trump taps budget head Mulvaney as acting chief of staff


Donald Trump announced Friday that his budget director Mick Mulvaney will step in as acting chief of staff to replace John Kelly - amid indications the president is struggling to fill the key post.Trump, whose presidency is increasingly embroiled in legal troubles, announced earlier this month that Kelly, a former ...

City »

BNP candidate of Dhaka-8 constituency Mirza Abbas speaking at a prèss conference at his residence in the city on Saturday in protest against attack on his electioneering in the city's Segunbagicha area.


Entertainment »

Mim`s new movie Thai Curry


Sheikh Arif Bulbon :End of this year is becoming something new for the National Film Award winner actress Bidya Sinha Saha Mim. At the end of this year, she has started shooting of a new movie. Now she is staying in Bangkok to take part in shooting of the movie. ...

Business & Economy »

In presence of Mohammed Monirul Moula, AMD of Islami Bank Bangladesh Limited, Abu Reza Md. Yeahia, DMD of the Bank and Dr. M. Easin Ali, Chairman of Dhaka City Physiotherapy Hospital, exchanging an agreement signing document at the Banks head office in the city on Wednesday. Under the deal, VISA and Khidmah Card holders of the Bank will get attractive discount in treatment services of the Hospital. Top officials from both the organizations were also present.


.

Cricket »

Malinga named captain for ODI, T20I series against New Zealand


Sri Lanka pacer Lasith Malinga, who until recently was out of favour with the selectors, has been appointed as the captain for the upcoming ODI and T20I series against New Zealand. He replaces Dinesh Chandimal, who led the side in the recently concluded ODI series and Thisara Perera, who captained ...

International »

US Senate votes to end support for Saudi-led Yemen war, blasts crown prince


The US Senate dealt President Donald Trump a double blow over Saudi Arabia on Thursday, approving a resolution to end US military support for Riyadh's war in Yemen, and another holding the Saudi crown prince responsible for the murder of Jamal Khashoggi.Though largely symbolic, the two bipartisan measures deliver a ...

International »

Islamic State not defeated, just transforming: Experts


Even as the last pockets of resistance in eastern Syria hold their ground, the Islamic State group is shapeshifting into a new, but no less dangerous, underground form, experts warn.Also known as ISIS, or the Islamic State in Iraq and Syria, the group had long been ready to cede the ...

Editorial »

Time to avail the golden opportunity to explore Japan`s rich market


BANGLADESH wants to explore the potentials of sending skilled workers to Japan as the country is likely to open its job market for foreign workers. The matter is likely to be raised at Foreign Secretary-level talks scheduled to be held on December 17 in Tokyo.Foreign Secretary M Shahidul Haque and ...

Editorial »

Involve the youths in decision making process


A RECENT survey rightly indicated that unified and quality education system for all is imperative to turn today's youth into skilled manpower for future Bangladesh. Ahead of the 11th National Election, the survey findings clearly echoed the youth voice who emphasised meritorious teacher recruitment at primary school to tertiary level ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news