IMF cuts Tanzania's 2019 economic growth forecast to 4%
- Author: Darren Santiago Apr 12, 2019,
Apr 12, 2019, 2:28
But critically, a "durable resolution of trade uncertainty" created by the US and China would be "very positive for global growth", she said in a press briefing, also warning against expanding the dispute to more sectors. The IMF noted Beijing's effort to support its economy which has helped "counter the negative effect of trade tariffs".
Addressing questions from journalists following the launch of the Africa Economic update at World Bank offices, Monday, World Bank senior economist Gerard Kambou said that Zambia's real GDP growth projection for the present year had been projected to drop to 3.3 per cent, down from 3.5 per cent recorded last year brought about by the country's growing debt. The forecast cut 0.2 percentage points from the IMF's outlook in January.
In 2018, India's growth rate was 7.1 per cent, as against China's 6.6 per cent.
Canada is not alone in the expected slowdown.
However, Gopinath said that a continued trade tension between the U.S. and China would have a negative impact on oil prices and other commodities.
A potential policy misstep from Britain could be in their indecision over how they wish to leave the European Union (EU). Despite looming deadlines, London has not decided how it will try to shield its economy during the exit process.
Deleveraging is still important for China and needs to be done gradually, said Gian Maria Milesi-Ferretti, the deputy director in the International Monetary Fund research department.
The report said weakness was expected to persist into the first half of 2019 but growth was projected to pick up in the second half of the year, supported by significant monetary policy accommodation by major economies in the absence of inflationary pressures.
Maurizio Sarri Insists He Wants Misfiring Veteran Striker at Chelsea Next Season
Callum Hudson-Odoi is ready for an important role at Chelsea as he makes look like a better team when he plays, former star Eidur Gudjohnsen says.
The U.S. economy, while seen outperforming other rich nations' economies, also got a downgrade on signs that a fiscal stimulus fuelled by tax cuts was producing less activity than previously expected.
The IMF said the Bank of England should be "cautious" on its interest rate policy, an apparent tip to wait before hiking borrowing costs.
It said the projected GDP growth rate of the country would remain 2.9 percent this year, while it would be 2.8 percent the next year, as compared to 5.2 percent in 2018.
The delegation led by finance minister including State Bank of Pakistan Governor Tariq Bajwa, Finance Secretary Younas Dagha, Economic Affairs Division Secretary Noor Ahmed and senior officials from these institutions would attend the spring meetings (April 9 - 14) of the International Monetary Fund and the World Bank and finalise a bailout package to stabilise macroeconomic fundamentals on the sidelines.
"Well, I mean, we strongly emphasise operational independence for the Central Bank, and that is how we how also make our assumptions in our forecast and I think that is important for all the countries...we push for operational independence of the Central Bank", she said. -China trade war did not materialize.
Instead, China should continue its focus on deleveraging and rebalancing its economy away from credit-based expansion to a economy is more sustainable and provides growth based on private consumption. "The downward revision in growth of 0.2 percentage points for 2019 from the January projection is also broad based". "Growth in China may surprise on the downside, and the risks surrounding Brexit remain heightened".
Canada is barely addressed in the text of the report, although it did note that the country would be one of the biggest beneficiaries if the US continues to apply tariffs to products from China. China responded with retaliatory tariffs on US goods.