The global economy is heading to a slowdown in growth while economists project recovery in the coming years will be “precarious”.
An escalating trade tension between the US and China; economic distress in emerging markets; and, risks associated with Brexist shadow the economic outlook for the year 2020, which is expected to drop by three percentage points from 3.6pc last year, according to Gita Gapinath (PhD), IMF’s cheif economist.
The IMF has released its latest global economic outlook report today in Washington DC. The buzzword among economic pundits on the 19th Street, where the World Bank and the IMF are headquartered, is “a delicate moment” for the global economy. Gopinath in particular warned of a potential spillover effect on the countries in the sub-saharan region of the trade tension between the two largest economies in the world.
Economists see African economies on the receiving end of a weakening global trade which will distress commodities market due to a drop in demand particularly from China.
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Publish date : 2019-04-10 13:27:12