IMF slashes 2019-20 global GDP growth forecasts
The trajectory for global economic growth has shifted lower, according to the world's watchdog for financial stability.
According to the International Monetary Fund's latest projections, the rate of in global gross domestic product will pick up from 3.0% for 2019 - the slowest pace since the 2008/09 financial crisis - to 3.4% in 2020.
The forecasts contained in the Washington-based lender's October edition of its annual World Economic Outlook marked a downward revision from the rates of growth of 3.3% and 3.6% which the IMF had predicted in April.
The Fund's economists said the improvement would be driven by several emerging and developing economies, but added a caveat.
"Yet, with uncertainty about prospects for several of these countries, a projected slowdown in China and the United States, and prominent downside risks, a much more subdued pace of global activity could well materialize.
"[...] policies should decisively aim at defusing trade tensions, reinvigorating multilateral cooperation, and providing timely support to economic activity where needed.
"To strengthen resilience, policymakers should address financial vulnerabilities that pose risks to growth in the medium term. Making growth more inclusive, which is essential for securing better economic prospects for all, should remain an overarching goal."