(DAVOS, Switzerland) — The world economy will be more sluggish this year, the International Monetary Fund warned Monday, citing trade disputes that have seen China slow to its weakest pace in 30 years as well as the impact of rising U.S. interest rates. The IMF cut its forecast for global growth this year to 3.5 percent, from the 3.7 percent it had predicted in October and down from 2018’s 3.7 percent. “After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising,” said IMF Managing Director Christine Lagarde as she presented the new forecasts at the World Economic Forum in Davos, Switzerland. Underscoring the wobbly state of the global economy: China, the world’s second-biggest economy, on Monday reported 2018 growth of 6.6 percent, the weakest since 1990.
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PAUL WISEMAN / AP, Time: World
Mon, 01/21/2019 - 7:53am
Topics: international monetary fund the imf after imf managing director christine lagarde world economic forum davos underscoring consumer china s growth the world bank organization economic cooperation development britain s italy s president donald trump united states higher gita gopinath rising great recession switzerland china u.s imf chinese europe expected slow world economy trade tensions percent year rates global emerging-market pose monday forecast borrowers years weakest currency interest countries risk forecasts
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