The World Trade Organisation says global trade is expected to grow at a much slower pace this year than previously thought. WTO analysts have lowered their growth forecast for 2019 by almost a third and says Brexit a threat to any recovery.
With uncertainty on the horizon, the IMF has downgraded its outlook for the world's economic output. It warned that US tariffs on European cars, a no-deal Brexit or a trade war with China could tank the global economy.
Christine Lagarde has stepped down as managing director of the International Monetary Fund, saying she now has more clarity on her nomination to be the next head of the European Central Bank.
IMF Managing Director Christine Lagarde will become the European Central Bank's next president in November. If she replaces Italy's Mario Draghi, a huge change in the eurozone lender's policy seems unlikely.
75 years ago, the Bretton Woods conference laid the foundations for much of today's global economic order. But the system is facing a serious threat from growing nationalism and protectionism worldwide.
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