International Monetary Fund cuts India growth forecast for 2019-20 to 7.3 per cent

Donald Trump trade war IMF

'This is a delicate moment for the global economy, ' Gita Gopinath, the IMF's chief economist, said at a news conference, while cautioning that the fund does not foresee an worldwide recession.

She said, "For Nigeria, what's very important is the oil price". The IMF raised its forecast for USA growth in 2020 by a tenth of a percentage point to 1.9 per cent.

Economists at the International Monetary Fund downgraded their growth forecast for the 2019 to 2.3 percent, down from 2.9 percent in 2018.

"With improvements expected in the second half of 2019, global economic growth in 2020 is projected to return to 3.6 percent".

The outlook partly reflects brighter prospects for trade negotiations between China and the United States.

The country's stimulus-boosted private sector is on track to lead the economy to a "self-sustained recovery" that could see growth hit 6.6 percent this year, it said.

While government in the 2019 budget is projecting an overall growth of 7 per cent, the International Monetary Fund believes Ghana would end the year with higher growth than what the Finance Minister, Ken Ofori Atta has outlined for this year.

Also, the convergence prospects are bleak for some emerging market and developing economies.

It maintained its projections for Saudi Arabia, saying the region's leading economy is expected to grow by a muted 1.8 percent this year and 2.1 percent in 2020.

Florida man with tattoo-covered face arrested in 2001 cold case murder
The Tampa Bay Times reported Clarke was found beaten to death in November 2001 at a construction site in New Port Richey, Fla . Detective Loppolo got the cold case in 2016, dug through old files, and eventually got a grand jury to indict Petersilge.

With the Indian economy projected to slow down further in the fiscal fourth quarter, the central bank's focus has shifted from inflationary concerns to sustaining the growth momentum.

Following a technical recession in 2018, most forecasts were revised down from the 1.2%-1.5% range, as the economic realities set in despite upbeat talk around political change in the country. A similar pattern holds for low-income countries with some, particularly commodity importers, growing rapidly but others falling further behind the advanced world in per capita terms.

On a monthly measure, the economy grew by 0.2%, faster than the 0% forecast.

The outlook for Germany, one of the main drivers of European growth, suffered from weaker demand for its exports, softer consumer spending and new emissions standards that have depressed auto sales.

Other suggestions for India in the outlook include improving the governance of public sector banks; reforms to hiring and dismissal regulations to incentivise job creation and absorb the country's large demographic dividend; and land reform to facilitate and expedite infrastructure development.

In the near term, continued fiscal consolidation is needed to bring down India's elevated public debt.

"There is a need for greater multilateral cooperation to resolve trade conflicts, to address climate change and risks from cybersecurity, and to improve the effectiveness of global taxation", she said. If the downside risks do not materialize and the policy support put in place is effective, global growth should rebound. "In that case, policymakers will need to adjust", she added.

Conditions have eased in 2019 as the US Federal Reserve signalled a more accommodative monetary policy stance and markets became more optimistic about a US-China trade deal, but they remain slightly more restrictive than in the fall. "Lastly, adequate resources for multilateral institutions remain essential to retain an effective global safety net, which would help stabilize the global economy".

Related News:

  • Netflix App no longer supports AirPlay

    Netflix App no longer supports AirPlay

    The ability to access everything you can think of with channels from Starz, HBO, Epix, CBS All Access , but not Netflix . It seems that Netflix is anxious that AirPlay on 3rd party TVs will give a substandard experience when using Netflix .
    Muguruza retains Monterrey title as injured Azarenka retires

    Muguruza retains Monterrey title as injured Azarenka retires

    This was the first title of the season for Spain's Muguruza, a former world No 1 who has slipped down the ranks. This gave the leg support but hampered Azarenka's range of movement in serving and running.
    Microsoft's Windows 10 May 2019 Update is now available for testing

    Microsoft's Windows 10 May 2019 Update is now available for testing

    Going forward, Windows 10 users can choose between " check for updates " or simply pause updates for next (up to) 35 days. You are asked to link a Microsoft Account or an Azure Active Directory account that joined the Windows Insider program .
  • NYC orders mandatory vaccines for some amid measles outbreak

    It is the first time New York City has ordered mandatory vaccinations in recent history, according to health officials. Officials blamed the outbreak on so-called anti-vaxxers who have spread false information.
    Panthers announce 2019 preseason schedule

    Panthers announce 2019 preseason schedule

    The only preseason opponent the Giants won't play in the regular season are the Bengals, who will host Big Blue in 2020. At some point between August 22-25, the Cardinals will play their preseason Week 3 game in Minnesota at U.S.
    Ocasio-Cortez: Republicans shouldn't dismiss Green New Deal as 'socialism'

    Ocasio-Cortez: Republicans shouldn't dismiss Green New Deal as 'socialism'

    Prior to joining Congress, Ocasio-Cortez worked as a bartender and waitress until late 2017. But she used a chunk of her time to question Republicans' motives.
  • Maple Leafs vs. Bruins Playoff Odds, Betting Preview

    Maple Leafs vs. Bruins Playoff Odds, Betting Preview

    Not only did he post a dismal minus-5 rating in that game, Gardiner was on the ice for Boston's final three goals. We were there all year. "It's just making sure we're not beating ourselves and making smart plays with the puck".
    Debenhams reject Sports Direct deal

    Debenhams reject Sports Direct deal

    Debenhams , once the country's biggest chain of department stores, rejected the offer on Monday afternoon. In it, the Newcastle United owner offered to underwrite a £150 million rights issue for Debenhams.
    Chelsea's Drinkwater charged with drink driving

    Chelsea's Drinkwater charged with drink driving

    But Drinkwater has struggled to lock down a regular role with the Blues and has not made a competitive appearance in 13 months. Drinkwater has played only once for Chelsea this season in the Community Shielf clash against Manchester City - which he lost.
  • India’s 2019 World Cup squad to be announced on April 15

    India’s 2019 World Cup squad to be announced on April 15

    India Probable squad for World Cup 2019: The Sportsrush presents before you India's probable squad for the showpiece event . The deadline for announcing the squad is April 23 and till now only New Zealand has announced their World Cup squad.
    Family Desperate For Answers After New York Couple Vanishes On Caribbean Vacation

    Family Desperate For Answers After New York Couple Vanishes On Caribbean Vacation

    Moore and Portia Ravenelle flew out of Newark Liberty International Airport around midnight on March 23, Turner said. She said the pair had been warned by the rental company not to open their windows for any local people due to crime.
    Debenhams handover is expected to trigger a wave of store closures

    Debenhams handover is expected to trigger a wave of store closures

    Mr Ashley's 30pc stake, acquired by Sports Direct at a cost of £150m, has been wiped out along with the rest of the equity. They sold the group to its creditors including British banks and US hedge funds.

Most liked

Wynn Resorts scotches potential takeover of Crown Resorts
Soon afterward, Crown signaled a retreat from worldwide expansion plans that included Las Vegas and Macau. In 2016, 19 of its staff members were arrested in China on charges of illegally promoting gambling.

Magic Johnson Throws Rob Pelinka Under The Bus During Lakers Exit
We are deeply grateful to Magic for all that he has done for our franchise - as a player, an ambassador and an executive . About 2 1/2 hours after Johnson's announcement Buss tweeted "Earvin, I loved working side by side with you.

Trump Denies Reports That He Will Restart Family Separations at Border
Seeborg said the injunction will go into effect at 5 p.m. on Friday, to give the government time for a possible appeal. Under that policy, adults were taken to court for criminal proceedings, while their children were separated from them.

Peak gas prices coming to Washington over next few weeks
Prices are up by about 28 cents in both the entire US and MI on average during the past month. And in California alone, the statewide average is $3.83 a gallon.

Maoists attack BJP convoy in Dantewada, MLA Bhima Mandavi among 6 killed
Attacks on Indian forces by jungle-based Maoist units are frequent and often deadly in Chhattisgarh, a poor and restive state. Prime Minister Narendra Modi condemned the attack and said the sacrifices of the deceased will not go in vain.

Avengers Directors Explain Brie Larson's New Look For Captain Marvel
She did [ Avengers: Endgame ] before she filmed Captain Marvel , and I think she was experimenting with what the character was. He stated that the studio had already developed a five-year plan for their upcoming releases.

Scientists Are Expecting A HUGE Announcement This Week
A computer simulation shows the expected appearance of the accretion disk surrounding a black hole , as seen in radio wavelengths. That theory, put forward in 1915, was meant to explain the laws of gravity and their relation to other natural forces.

Iran's Khamenei calls US blacklisting of Guards a 'vicious move'
Iranian newspapers and state-run press, which are subject to government control , also had confrontational commentary for the USA decision.

Canadian Corey Conners wins Valero days after qualifying, will play Masters
Hoffman meanwhile will also head to the Masters in good spirits after posting an impressive five-under-par 67 in the final round. It got better on the par-four 17th, with Conners curling a 12-foot birdie putt to take him three clear heading to the 18th.

Boosie Released After Arrest for Felony Gun and Drug Possession
The Louisiana rapper, Boosie Badazz , was arrested on drug and weapon charges in Georgia, according to a report from WVUE FOX 8 . Bugg said that the vehicle wound up being a rental auto that neither Boosie or Allen were linked to in paperwork.

Keys fends off Puig, rain to move into Charleston final
Keys closed out the first set with a forehand service return, then broke Puig, the Olympic champion, three times in the decider. Wozniacki grabbed another 4-2 lead in the second set but the 16th seeded Martic bounced back to level the set at 4-4.

Samsung Galaxy A20’s first sale today: Price, offers and more
It will be available on Samsung e-Store, Samsung Opera House, leading e-commerce portals and retail stores across the country. The announcement doesn't really come as a surprise since Samsung has only launched Galaxy A and M series phones this year.

Loughlin, husband, 14 parents face new charge in college admissions scam
Center was accused of accepting almost $100,000 to help a non-tennis playing applicant get admitted as a recruit. Macy of "Fargo" fame, was not charged in connection with the college admissions scandal .

Barr to release redacted Mueller report within a week
Matt Cartwright (D-PA) asked him if he was aware of the number of people who would lose coverage if the law was struck down. The only way for Mueller to remain fully agnostic on that subject was to keep his fingerprints off of Barr's letter.

Homecoming: Beyonce Coachella Concert Film Trailer Released By Netflix
That date happens to fall smack-dab in-between the weekends of this year's Coachella , which runs April 12-14 and April 19-21. Netflix has debuted the trailer for Homecoming , a new documentary based around her 2018 Coachella performance back in 2018.