IMF warned governments about the expected global economic storm

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Dubai: International Monetary Fund or IMF gave a warning to different governments for the expected global economic storm.

IMF warned governments to be prepared as the global economic storm can hit soon. IMF Managing Director Christine Lagarde revealed that they see the economy that is growing more slowly than they had anticipated. However, she said it at the World Government Summit in Dubai.

In January 2019, IMF declined the global economic growth forecast for this year from the 3.7% to 3.5%.

Christine Lagarde said what she called “four clouds” as key factors undermining the global economy and also warned that the global economic storm may hit.

There are several risks such as trade tensions and tariff escalations, financial tightening, uncertainty related to Brexit outcome and spillover impact and an accelerated slowdown of the Chinese economy. Christine Lagarde further added that the US China Trade War already affected the global economy.

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