IMF Predicts 3-Year Sluggish Global Economic Growth From 2019
The International Monetary Fund IMF has predicted moderate pick in global growth in 2020 and 2021 as there are positive indications that growth will rise from 2.9% -3.3% -3.4% in 2019, 2020 and 2021 respectively.
This was disclosed in a key note address on Monday, by Gita Gopinath, IMF Economic Counsellor in Davos Switzerland,
According to IMF, global growth will remain sluggish due to economic tensions and pressures, however it stated that the good news is that despite the reform of the trade dispute between us and china tension in middle East and Climate tension growth will be achieved.
The Managing Director (MD), Kristalina Georgieva described growth in 2020 in these words “Synchronized slow down stabilisation and sluggish recovery.”
She advice policy makers to keep doing what works and focus on boosting potential growth with financial reforms, making financial services accessible.
She however expressed optimism that the world has avoided global recession and further encouraged countries to be ready to act if growth slows again and have a coordinated fiscal response and look forward to cooperating more as a new year resolution.
The IMF warned against US Europe trade tensions and another US -China trade war.