Tuesday, 16 October, 2018
  • Economy
  • International Monetary Fund predicts India will grow at 7.3% in 2018-’19

International Monetary Fund predicts India will grow at 7.3% in 2018-’19

Pakistan to seek IMF bailout to overcome financial crisis The Pakistani rupee has fallen by more than 20 percent in four devaluations since December
Laurie Berry | 11 October, 2018, 14:21

Lagarde met with Finance Minister Asad Umar and State Bank of Pakistan Governor Tariq Bajwa, who are attending the fund's annual meeting in Bali.

Lagarde told reporters the Fed's rate hikes were justified by fundamentals.

Reforms to support inclusive and more sustainable development, and to avert financial crises, are key themes of the report of the G-20 Eminent Persons Group on Global Financial Governance, chaired by Deputy Prime Minister Tharman Shanmugaratnam, due to be released tomorrow.

He did not specify how much in emergency financing the government would seek, but he had earlier said the government would need at least $8 billion to meet external debt payments through the end of the year.

"It took a lot of people and a lot of time to push the boulder this far up the hill", he said.

Lagarde also touched on the economic situation in eurozone member Italy, warning Rome that it was well-advised to abide by European Union fiscal rules and adhere to the bloc's financial stability regulations amid concerns that the country's 2019 budget could exacerbate financial problems.

Her comments come as a trade spat between China and the United States threatens economic growth around the world, with International Monetary Fund experts warning of "new vulnerabilities" in the global system.

The downgrade reflects a confluence of factors, including the introduction of import tariffs 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.

PlayStation Online ID name change feature coming soon
Users that have already pre-registered as testers in previous PS4 software betas will have access to this new feature "soon". The standard price for a name change is going to be $9.99, and PlayStation Plus members will only need to pay $4.99.

The IMF, in its twice annual assessment of global financial stability, said conditions remain broadly conducive to economic growth, but are at risk of worsening should emerging markets deteriorate further or trade tensions escalate.

The IMF had in its World Economic Outlook report in July projected that Nigeria's economy would grow by 2.1 per cent in 2018 and 2.3 per cent in 2019.

"Nigeria, like many other emerging market countries, has come under market pressure since mid-April".

-China tariff war's impact to be felt next year, the fund cut its 2019 US growth forecast to 2.5 percent from 2.7 percent, while it cut China's 2019 growth forecast to 6.2 percent from 6.4 percent.

Citing the impact of USA taxes on Chinese imports, however, the International Monetary Fund shaved the outlook for China next year to 6.2 percent, which would be the country's slowest growth since 1990.

"It also expects the economy to grow 1.4 per cent in 2019, down from a previous estimate of 1.7 per cent".

Trump has repeatedly touted Wall Street record highs as proof of the success of his policies including a confrontational trade strategy, and frequently criticises the Fed for gradually raising interest rates, which could press the brakes on equity markets. "There is an appetite to improve and expand trade", she said, citing the TPP-11 - a revised Trans-Pacific Partnership after the US pullout - and progress on the US-Mexico-Canada deal.

Soyuz MS-10: Russian spacecraft makes emergency landing on Earth
Samsung Galaxy A9 goes official with four rear cameras

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