Sunday, 16 December, 2018

China trade war and Brexit threaten global growth says International Monetary Fund

PM Imran Khan chairing the Punjab cabinet meeting. — PTI PM Imran Khan chairing the Punjab cabinet meeting. — PTI
Rhonda Young | 10 October, 2018, 03:42

India's medium-term growth prospects remain strong at 7.75 per cent, benefiting from ongoing structural reform, but have been marked down by just under 0.5 percentage point relative to the April 2018 WEO, it said. The Nasdaq Composite dropped 7.44 points, or 0.10 per cent, to 7,728.51 at the opening bell.

"Historically, Pakistan has achieved 3 to 3.5 percent growth rate in the first two to three years whenever we availed the International Monetary Fund program", Aslam said, adding: "It would be a big achievement if we maintain growth at 3.5 percent".

The fund cut its 2019 U.S. growth forecast from 2.7 per cent to 2.5 per cent, and the China growth forecast from 6.4 per cent to 6.2 per cent.

While the IMF's outlook for the Chinese economy stayed at 6.6% this year, its forecast for next year of 6.2% represents the slowest growth rate the Asian country has seen since 1990. Bond markets were closed, leading USA indexes to a mixed finish after a day of light trading.

"The downward revisions reflect to an important extent the worsening of growth prospects for Iran, following the re-imposition of U.S. sanctions", it said.

Anti-feminist #HimToo movement hilariously backfires with viral meme
The hashtag #HimToo was first used for men who came forward to say they were victims of sexual misconduct, the magazine noted. When you take an overbearing mother and then factor in this insane divided political landscape, however, anything goes.

Foreign investors warmed to the news on IMF's possible involvement. Yet that followed a 4.3 percent slide on Monday, which was the largest daily fall since early 2016.

The rupee tumbled to about 134 per dollar by 0530 GMT, after closing at 124.26 on Monday, in what market participants called a de facto devaluation. The Indian and Sri Lankan rupees both hit record lows.

The IMF sees China's 2019 growth declining to 6.2 percent from the previously forecast 6.4 percent.

On the global ratings, International Monetary Fund cut its global growth forecasts as a result of the trade tensions between the USA and trading partners.

The IMF's projection is close to the World Bank's forecast of 7 percent for fiscal 2018-19, released on Oct 2.

'Unprecedented' Climate Action Needed To Save Planet, Dire Report Warns
The outcome will determine whether "my grandchildren would get to see lovely coral reefs", Princeton's Oppenheimer said. Limiting warming to 0.9 degrees from now means the world can keep "a semblance" of the ecosystems we have.

The IMF says there is a "risk of contagion" as investors become increasingly nervous about the strength of emerging markets, with the risk of capital flows towards the USA accelerating.

"Maybe some people were expecting some reassurance from Tria, but he's not calling the shots", said Jan von Gerich, chief analyst at Nordea.

Japan's benchmark Nikkei 225 fell 1.3 per cent to 23,469.39.

In a press conference at the White House on Tuesday, President Trump said "China wants to make a deal and ... they're not ready yet", adding that is a reason his administration has canceled a couple of meetings with Beijing. Dollar-denominated bonds chalked up solid gains, with many issues adding around 1.5 cents, according to Tradeweb data - their biggest daily gain in several weeks.

China Tells the US to Stop Criticizing Beijing's Policies
When asked for a date on the inspection, Pompeo responded, "As soon as we get it logistically worked out". During Mr Pompeo's last visit to Pyongyang in July, he was denounced for making "gangster-like demands".

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