Sat. Apr 20th, 2019

The IMF will lower the global growth forecast due to the loss of "momentum"

The IMF will lower the global growth forecast due to the loss of "momentum"


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The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, said today that the world economy has continued to lose "momentum" in the first quarter of the year, which will reduce global prospects below the estimated 3.5% for this year.

"In January, the IMF projected global growth for 2019 and 2020 of around 3.5%, lower than we have seen in recent times (...) Since then, growth has continued to lose momentum," explained Lagarde in a speech at the US Chamber of Commerce

"Only two years ago, 75% of the world economy experienced a rebound, and this year, we expect 70% of the global economy to experience a slowdown", remarked the managing director of the Fund, a week before the institution published its new global forecasts in the framework of its joint spring meeting with the World Bank (WB).

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