Last month, the Swiss government, raised its GDP forecast for 2018 to 2.9% from 2.4% and, earlier this year, it was announced that Swiss exports had matched and surpassed their recent growth.
He stated, "Nigeria's growth, 1.9 per cent this year; 2.3 next year".
The International Monetary Fund (IMF) on Tuesday acknowledged the economic reforms carried out under Prime Minister Narendra Modi and projected India to be the world's fastest growing major economy this year and next.
While the IMF's outlook for the Chinese economy stayed at 6.6% this year, its forecast for next year of 6.2% represents the slowest growth rate the Asian country has seen since 1990.
The Breton Woods institution, which said this at the Annual General Meetings of the IMF/World Bank now going in Bali, Indonesia, also revised downwards growth prospects for Nigeria in 2018 from 2.1 per cent to 1.9 per cent.
The latest World Economic Outlook Report has predicted a slightly lower growth rate than it made projections in the April 2018 World Economic Outlook for 2019.
The planned event set to kick off Thursday - the "Peoples' Global Conference against IMF-WB" - has had its approval yanked by police, and the venue organizer cancelled, organizers said.
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The head of the World Trade Organization warned that a "full-blown commercial war" could shrink global trade by almost 18 percent and also knock worldwide GDP, hurting the United States, China, and others.
In their latest Global Financial Stability Report, the International Monetary Fund said: "A further escalation of trade tensions, as well as rising geopolitical risks and policy uncertainty in major economies, could lead to a sudden deterioration in risk sentiment, triggering a broad-based correction in global capital markets and a sharp tightening of global financial conditions".
"It's the combination of the two that is probably showing some of the tensions that we see in terms of indices, short-term indicators as well as possibly market volatility", Lagarde said.
"In Nigeria, inflation is projected to fall to 12.4 per cent in 2018 from 16.5 per cent in 2017, and to rise to 13.5 per cent in 2019".
The IMF says there is a "risk of contagion" as investors become increasingly nervous about the strength of emerging markets, with the risk of capital flows towards the United States accelerating.
"We will be listening very, very attentively when and if they come to us", said Obstfeld.
Lagarde rejected the concerns of the US Treasury secretary, Steve Mnuchin, that China might manipulate its currency to make trade with the US more favourable and offset the effects of tariffs imposed by the Trump administration. In September, Trump imposed tariffs on almost $200 billion of Chinese imports, with China responding with higher tariffs on about $60 billion of USA imports.