Published: Thu, October 11, 2018
Money | By Ralph Mccoy

International Monetary Fund flags global fiscal stability

International Monetary Fund flags global fiscal stability

Mr Milesi-Ferretti noted Nigeria's (economic) growth of about 1.9 per cent this year to rise to about 2.3 in 2019, with South African economy, now in technical recession at only 0.8 per cent growth rate this year.

Thousands of security personnel have fanned out around key venues in Nusa Dua, just south of Bali's main worldwide airport, with some 32,000 delegates, including finance ministers and central bankers, attending the IMF-World Bank meetings.

Also notably, the Philippines's inflation will be below the median 3.3-percent forecast inflation among emerging and developing Asia five years from now.

She said: "We certainly hope we don't move in either direction of a trade war or a currency war".

The IMF's latest report on world financial stability, released Wednesday, said global growth could be at risk if emerging markets deteriorate further or trade tensions escalate.

The IMF said it was now predicting 3.7 percent global growth in both 2018 and 2019, down from its July forecast of 3.9 percent growth for both years.

The United States has become increasingly impatient with what it sees as a lack of support from nuclear-armed Pakistan in quelling a Taliban insurgency that USA -led forces are fighting in neighboring Afghanistan. China's economy is also showing signs of moderating and that could be exacerbated by its trade disputes with the United States, which has imposed tariffs on $250 billion worth of imports from Beijing and is threatening duties on $267 billion more.

"Trade is very critical because that is what has lifted people out of extreme poverty", Kim said. Rising interest rates are drawing investment flows out of emerging markets in Asia and Latin America at a time when growth in their exports is likely to slow.

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He said the talks would be held for "such a programme, a stabilisation, a recovery programme, on which basis we could overcome this financial crisis".

One of the most comprehensive studies of the state of banking and markets since the financial crisis warns that "dangerous undercurrents" are a rising threat to the world economy.

Speaking at a press conference on Fiscal Monitor on the sidelines of the ongoing IMF/World Bank Annual meetings in Bali, Indonesia, yesterday, Mauro identified a certain aspect of tax policy that would help.

"We will have to take a loan to support the falling economy". During the meeting the current level of Pak-World Bank cooperation was reviewed.

The Pakistani government's decision will create hardships for Imran Khan as the IMF's tough conditions will result in price hike.

Her statements indicated that Pakistan could be forced to disclose the full extent and terms of Chinese lending it received in recent years as part of its participation in the Belt and Road Initiative, China's vast global infrastructure-spending programme.

The annual summit for global finance brings together central bankers and finance ministers, development experts and civil society groups from across the globe.

On recent yuan declines, Lagarde said they were mainly driven by the strength of the dollar, noting that it has not depreciated as much against a basket of currencies.

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