The International Monetary Fund, IMF, has lowered its forecast for the world economy.
The IMF’s latest World Economic Outlook now predicts global growth of 3.2 per cent this year and 3.5 per cent in 2017.
The Washington-based multi-lateral had previously forecast global growth of 3.4-percent this year and 3.6 percent next year.
Chief Economist at the IMF, Maurice Obstfeld, today described the pace of growth as increasingly disappointing.
Mr. Obstfeld, says the downgrade in the growth forecast for the global economy is due to a widespread slowdown across all types of economies.
He said this trend has left the world economy more exposed to negative risks.
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