Christine Lagarde warns of a approaching global economic slowdown

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

Amid a global slowdown in the world economy, the International Monetary Fund Chief on Sunday warns the world economies of a looming slowdown, and asked them to gear up for its impact.

“The bottom-line – we see an economy that is growing more slowly than we had anticipated,” IMF Managing Director Christine Lagarde told the World Government Summit held in Dubai on Sunday.

Interestingly, IMF last month lowered its global economic forecast to 3.5% from a previous bit high growth rate of 3.7%.

IMF chief alluded to what she calls “four Clouds”, which according to her are the four most significant factors that can affect the global economic growth and warned of a “storm” that might be approaching world economies.

The fore factors that might lead to a “storm” as cited by Lagarde are “trade tensions and tariff escalations, financial tightening, uncertainty related to (the) Brexit outcome and spillover impact and an accelerated slowdown of the Chinese economy”

Lagarde also talked about the ongoing trade war between two biggest economies of the world, US and China, and its apparent aftermaths which has already started impacting the word economy.

“We have no idea how it is going to pan out and what we know is that it is already beginning to have an effect on trade, on confidence and on markets,” she said, alluding to the anti-Globalization sentiment.

Since 2016, especially after the arrival of Donald Trump into the politics, the sentiment of Protectionism has been on rise and many major economies have started advocating the idea of protectionism. This is hampering the globalization and if not controlled can negate the impact of globalization. Lagarde also warned about the potential havoc that trade wars and protectionism can cause to global economy.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

An archive of dust

By Sukant DeepakNew Delhi, Nov 23 (IANS) The capitals erstwhile colonies find themselves in colour and form in her...

Mahanta slams AGP’s top brass for silence over CAB

Guwahati, Nov 23 (IANS) Expressing his displeasure over the party's role regarding the Citizenship (Amendment) Bill, former Assam chief minister and senior Asom Gana...

Sebi bans Karvy Stock Broking for unauthorised use of clients’ money (IANS Impact)

New Delhi, Nov 22 (IANS) After a major scandal hit the stock markets with the brazen modus operandi of misusing clients' funds, the Securities...

RBI enhances scope of non-resident rupee accounts

Mumbai, Nov 22 (IANS) To popularise cross-border transactions in Indian rupee, the Reserve Bank has enhanced the scope of 'Special Non-resident Rupee' (SNRR) by...

Airtel, VIL, Tata seek review of SC’s AGR order for waiver (2nd Lead)

New Delhi, Nov 22 (IANS) Bharti Airtel, Vodafone Idea Ltd and Tata Teleservices on Friday individually filed review petitions in Supreme Court on the...
- Advertisement -

More Articles Like This