Christine Lagarde warns of a approaching global economic slowdown

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

SBI to adopt RBI’s repo rate as external benchmark

Mumbai, Sep 23 (IANS) State Bank of India, the countrys largest lender, has decided to adopt RBIs repo rate...

With 4 judges sworn in, SC attains full strength

New Delhi, Sep 23 (IANS) The Supreme Court on Monday attained its full strength after the swearing of four new judges taking the total...

EIB, 8 banks to raise annual climate finance by 2025

New York, Sep 23 (IANS) The European Investment Bank (EIB), together with eight other multilateral development banks like the Asian Development Bank, pledged at...

Jodie Comer wins first Emmy for ‘Killing Eve’

Los Angeles, Sep 23 (IANS) English actress Jodie Comer took home an Emmy in Lead Actress in a Drama Series category for her portrayal...

Iran dismisses prospect of talks with Trump at UN

Tehran, Sep 23 (IANS) Iran has dismissed any prospect of talks with US President Donald Trump on the sidelines of the ongoing 74th UN...
- Advertisement -

More Articles Like This