Jan
19

IMF Cuts Global Growth Forecast to 3.4% in Year of ‘Great Challenges’

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  • Fund cuts 2016 growth forecast to 3.4% from 3.6% in October
  • 2016 will have `great challenges’, IMF chief economist says

The six-year-old global recovery is showing some rust.

The International Monetary Fund cut its world growth outlook, as the commodities slump and political gridlock push Brazil deeper into recession, plunging oil prices hobble Mideast crude producers, and the rising dollar curbs U.S. prospects.

The global economy will expand 3.4 percent this year, down from a projected 3.6 percent in October, the IMF said Tuesday in a quarterly update to its World Economic Outlook. The Washington-based fund also cut its forecast for growth in 2017 to 3.6 percent, down from 3.8 percent three months ago…

IMF Cuts Global Growth Forecast to 3.4% in Year of ‘Great Challenges’

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