Giving his opening remarks at the unveiling of the 2018 World Economic Outlook on Tuesday, Maurice Obstfeld, IMF's chief economist, said commodity exporting countries will need to diversify their economies to boost further growth.
The IMF however forecast that growth would inch up from 3.8 percent in 2017, its fastest pace in six years, to 3.9 percent in 2018 and 2019, which is in line with its most recent estimate in January.
India is expected to grow at 7.4 per cent in 2018 and 7.8 per cent in 2019, leaving its nearest rival China behind respectively at 6.6 and 6.4 per cent in the two years, the International Monetary Fund said on Tuesday. The growth was driven by an increase in prices - for example, the average cost of an iPhone rose from $618 in 2016 to $798 in 2017 - rather than in volume terms, as the number of smartphones sold fell for the first time on record a year ago.
Although it's hard to fully assess the impact the signal the ban is sending to foreign investors, he says it "would be one thing for the Government to worry about".
The IMF predicts projected that GDP growth in Sub-Saharan Africa will increase gradually during 2018-19 to 3.4% and 3.7%, respectively, as commodity prices rise.
Overall global growth is forecast at 3.9% this year and next year.
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Setting the tone for a fruitful exchange of views at the talks, the two Prime Ministers walked together from the residence of Mr. Juvencio Maeztu, CEO IKEA Group, and Hakan Buskhe, CEO Saab , were among the top business leaders who attended the roundtable.
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The former " Sex and the City " star received more than 90 percent of party members' votes at their annual committee meeting. Cuomo campaign spokeswoman Abbey Fashouer says the governor's "record of progressive accomplishment is unmatched".
Inflation is already above the government and Bank of England's target of 2%.
According to the report, the recapitalisation plan for major public-sector banks announced in 2017 will help replenish capital buffers and improve the banking sector's ability to support growth.
Most funds for IMF loans are provided by members via payments based on their position in the world economy, although the IMF can also borrow. It foresees unemployment at 5.5% this year and 5.2% next year.
Obstfeld said there was more of a "phoney war" between the U.S. and China than a return to the widespread use of tariffs in the Great Depression, but that there were signs that even the threat of protectionism was already harming growth. The IMF acknowledges that's a risk, but it also says business confidence could be such that it's underestimating the U.S.'s potential to grow this year.
But while advanced economies are expected to grow at 2.5% in 2018, slowing thereafter to 2.2% in 2019, emerging market and developing economies are expected to pick up the slack, growing at 5.1% in 2019, up from 4.9% in 2018. One third of that uplift in U.S. growth is attributed to the Trump tax reform.
If a surge does occur, the International Monetary Fund would suggest temporary and targeted measures. Stronger U.S. demand will benefit most of the rest of the world, assuming Trump doesn't start a trade war. Those aren't the growth rates of around 4 per cent that Trump promised, but they are pretty good all the same.