Global Growth Risky
World Economy

Global Growth Risky

The head of the International Monetary Fund says global growth is “moderate and uneven” and faces rising risks.
The assessment came in a speech in Washington by IMF Managing Director Christine Lagarde, ahead of next week’s gathering of the fund’s 188 members from around the world, VoA reported.
Lagarde says the global economy grew about 3.4 percent last year, and benefited from declining oil prices and a strong performance by the world’s largest economy, the United States.
That pretty much matches the average growth rate over the past couple of decades, she said, but is not strong enough to heal the scars of the financial crisis, such as youth unemployment as high as 50 percent in some nations.
Lagarde says potential growth worldwide is being “pared down” by the lingering effects of the financial crisis, aging populations and lower productivity.
She called for more investment in infrastructure, to boost growth in the short term by providing jobs, and in the longer term by facilitating commerce.
Lagarde also urged nations to take advantage of lower oil prices to cut energy subsidies. This, she said, could boost the economies of oil-importing nations by a full one percent, and provide funds that could be better spent on education and other programs to improve the economy over the long term.
Helping small businesses with improved access to financing and other reforms is a key step toward boosting employment in many nations, the IMF director said, and she urged nations to do more to facilitate global trade.

Short URL : http://goo.gl/gnTxYW

You can also read ...

Mexico Hit by Major Bribery Scandal
Mexico is the latest country caught up in the swirling scandal...
Catalan regional vice-President and chief of Economy and Finance, Oriol Junqueras (2ndL), Spain’s King Felipe VI (7thL), Spanish Prime Minister Mariano Rajoy (6thL), President of Catalonia Carles Puigdemont (9thR), Spanish vice-President of the Government and Minister of the Presidency and of the Regional Administrations Soraya Saenz de Santamaria (5thL), Barcelona’s mayor Ada Colau (8thR), President of the Catalan parliament Carme Forcadell (4thL) and officials observe a minute of silence for the victims o
European stocks continued to trade deep into the red on Friday...
Pan-European stocks were down on Friday following falls in Asian and US stocks overnight.
European stocks continued to trade deep into the red on Friday...
Indonesia’s First Trade Deficit in 19 Months
Indonesia posted its first trade deficit since late 2015 in...
The economy is on track to meet full-year target growth.
The Philippine economy grew by 6.5% in the three months to...
The Industrial and Commercial Bank of China
Chinese banks are set to see a slowdown in lending growth in...
Tech Sector Suffering as Brexit Uncertainty Bites
Uncertainty caused by the UK’s decision to exit the European...
Malaysia GDP grew 5.8% year-on-year in the second quarter.
Malaysia’s economic growth accelerated unexpectedly to the...