The economic turmoil in China and a fall of commodity prices worldwide have taken a toll on the wider economy. The International Monetary Fund on Tuesday revised its growth forecast for this year downwards from 3.3 to 3.1 percent.
The global emergency lender sees the world economy on a robust growth path in the coming two years. However, that outlook faces a severe risk if trade tensions between the US and China escalate in the month ahead.
Opening the sessions of the two global lenders, IMF chief Christine Lagarde has warned governments about harming global trade and investment through unilateral measures even when disagreements exist.
The world economy is growing fast and according to a respected UK economic forecaster, that is behind an improved British growth forecast. As ever though, the outcome of Brexit decides all.
The International Monetary Fund has revised upward its forecasts for growth as economies around the world are recovering simultaneously and stronger than expected, helped at least for the short term by Trump's tax cuts.
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