International Monetary Fund outlook for Canada unchanged in latest analysis

World economic growth is set to improve to 3.5% this year from 3.1% in 2016, the Washington-based lender said in its latest World Economic Outlook report.

"Inward-looking policies threaten global economic integration and the cooperative global economic order, which have served the world economy, especially emerging market and developing economies, well", the International Monetary Fund wrote, in a thinly veiled slight at Trump and some European leaders flirting with their own forms of protectionism.

The IMF said inequality in both India and China has increased.

However, Obstfeld said the global economy seems to be gaining momentum.

"The medium-term outlook for the euro area as a whole remains dim, as projected potential growth is held back by weak productivity, adverse demographics, and, in some countries, unresolved legacy problems of public and private debt overhang, with a high level of non-performing loans", it said in the report.

Donald Trump administration's "Buy American and Hire American" stance and changes in Australia's visa policies have raised concerns over protectionism in the world.

Maintaining global trade growth is going to remain a challenge in the current political climate.

Vinson carrier group expected off Korea in late April
The communist state has conducted two nuclear tests and test-fired almost 30 missiles since previous year . The failure came as Vice President Mike Pence arrived in the South for talks.

The report which was written by World Bank Lead Economist, Punam Chuhan-Pole, explained that as countries moved towards fiscal adjustment, there was need to protect the right conditions for investment so that Sub-Saharan African countries achieve a more robust recovery.

Numerous concerns - including rolling back financial regulation, pulling away from the multilateral trading system and restricting immigration - are centerpieces of US President Donald Trump's policy program, but also are issues visible in the bitter French election campaign, as well as in Britain's planned exit from the European Union. What emerges from its survey is that no part of the world is free from the possibility of financial turbulence, with the risks once again on the increase in the United States. It kept the 2018 forecast for global economic growth unchanged at 3.6 percent.

"We see room for tax broadening efforts".

Bank economists have also said that growth will likely remain above six percent this year, citing strong trade data as the year opened.

But it added benefits could also arise from a less concentrated banking system throughout Europe. In other words, an unexpected shock to the system could have major financial consequences.

Inevitably, the International Monetary Fund identifies possible risks that could weaken its main forecasts. According to one measure, the ability of companies to cover interest payments is at its weakest since the 2008 financial crisis.

The Fund also supported the Government's decision to withdraw hard targets for economic policy, saying it was wise to "allow room for short-term manoeuvering and elevated uncertainty about the economic outlook".

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