Amid trade tensions, International Monetary Fund marginally cuts India's growth rate
17 Juillet, 2018, 09:37 | Auteur: Auguste Feret
The Fund also cut India's growth rate by a tenth of a point to 7.5 percent due to the negative effects of higher oil prices on domestic demand and faster than anticipated monetary policy tightening due to higher inflation.
As the organisation sounded the alarm amid an escalating trade war between the United States and China, it held firm with its projections for the world as a whole but warned that the "risks to the outlook are mounting".
India's growth rate is expected to rise as "drags from the currency exchange initiative and the introduction of the Goods and Services Tax fade", according to the report.
"The risk that current trade tensions escalate further with adverse effects on confidence, asset prices and investment is the greatest near-term risk to global growth", IMF Chief Economist Maury Obstfeld told a news conference, noting that US trade deficits are likely to grow due to high demand, possibly inflaming trade tensions further. While the U.S. faces greater risks from trade, the fund said that Trump's tax cuts would also mean the American economy would continue to grow in line with its previous estimates of around 2.4 per cent this year.
"We continue to project global growth rates of just about 3.9pc for both this year and next, but judge that the risk of worse outcomes has increased, even for the near term", it warned.
The IMF left its global economic growth forecasts unchanged at 3.9 percent for both 2018 and 2019 from its previous forecast issued in April.
Forecasts for the USA and China were both unchanged, with United States growth pegged at 2.9% in 2018 and 2.7% in 2019.
Click here for enlarge
The rate of expansion appears to have peaked in some major economies and growth has become less synchronised.
The RBI had said there was a 12 per cent increase in the price of Indian crude oils basket, which was "sharper, earlier than expected and seems to be durable". "For the aggregate of emerging market economies, the upward and downward revisions largely offset each other", the report added.
US President Donald Trump has continued to threaten the European Union with tariffs on a number of goods which has sparked fierce retaliation from trading partners.
Beyond the immediate threat from weaker levels of worldwide trade, the IMF said that greater use of protectionist measures could hinder business investment, disrupt global supply chains, slow the spread of productivity-boosting technologies and raise the price of consumer goods.
"Our modeling suggests that if current trade policy threats are realised and business confidence falls as a result, global output could be about 0.5pc below current projections by 2020", the report warned.
"As the focus of global retaliation, the United States finds a relatively high share of its exports taxed in global markets in such a broader trade conflict, and it is therefore especially vulnerable", Obstfeld added. The terms of Brexit remained unsettled despite months of negotiation.
5 best goals scored at FIFA World Cup 2018
The two superstars were vying to get their hands on the biggest prize in football for the first time in Russian Federation . Golden Ball victor Luka Modric stunned Argentina with this great strike for Croatia in Match 23 of FIFA World Cup 2018.
Even though it looks like a pleasant photo at first glance, people were quick to criticize the new Royal. Justin Welby, presided over Louis's christening, just as he did for George and Charlotte's christenings.
The main impact from these storms will be very heavy, torrential downpours, potentially causing some localized flash flooding. Occasional showers will be possible through the first half of the day with pop-up thunderstorms arriving this afternoon.
Ils étaient accompagnés seulement de deux interprètes, avant un déjeuner de travail élargi avec leur délégation respective. Naturellement au cours de cet entretien entre les deux dirigeants, les sujets qui fâchent ont été abordés.
But Bloomberg also reported on Monday that Jeff Bezos's net worth is up to $150 billion, based on today's rise in Amazon shares. Behind Bezos on the Bloomberg index is Gates, with a US$95.5 billion fortune followed by Warren Buffett with US$83 billion.
Il a aussi dit que les premiers intervenants n'ont pas pu localiser Emery tout de suite et qu'ils ont appelé l'unité de plongée. Connu pour son tempérament bouillant sur la glace, Emery a livré trois combats à d'autres gardiens pendant sa carrière.
The report said two thirds of civilian casualties were caused by anti-government forces, mainly the Taliban and Islamic State. With parliamentary elections scheduled for October, there is concern about more violence as polling day approaches.
The image on the board showed the actor sitting in a wheelchair with a prosthetic leg while wearing a U.S. In Sunday's episode, during an interview with Senator Bernie Sanders , Baron Cohen in character as Dr.
The Nationals outfielder defeated the Braves first baseman 13-12 with more than 20 seconds left in regular time . Fans booed Freddie Freeman and went wild less than five minutes later when Bryce Harper came up to bat.
Netflix subscriber growth slows, panicking Wall Street
Far from it, revenue for the quarter checked in at $3.1 billion, a modest 10% increase from the same quarter a year-ago. A significant chunk of subscriber growth can be attributed to Netflix's original content efforts.
Azealia Banks Accuses ‘Wildin’ Out’ Of Colorist Jokes
Banks then hit back at Cannon in another Instagram story post, taking a jab at his lupus diagnosis. "@meikthescxmmer I cried. Cannon took to Instagram to respond, writing, "Don't you hate when you create your own storms but forget your umbrella???"
Heat warning issued for Kamloops
Strong wind gusts can toss loose objects, damage weak buildings, break branches off trees and overturn large vehicles. Environment Canada says temperatures will push into the upper 20s and low 30s tomorrow, with humidex in the mid 30s.