Left Menu
Development News Edition

Global economy "far" from recession, IMF official says

Reuters | Updated: 14-09-2019 01:51 IST | Created: 14-09-2019 01:50 IST
Global economy "far" from recession, IMF official says
Representative Image Image Credit: ANI

Trade tensions are weighing on growth across the world, but the International Monetary Fund is "far" from forecasting a global recession, an IMF official told Reuters on Friday, as the fund prepares to release a new economic outlook next month. The IMF on Thursday said tariffs imposed or threatened by the United States and China could shave 0.8% off global economic output in 2020 and trigger losses in future years.

"The trade tensions are weighing on growth. But we really don't see recession in the current baseline. I think we're far from that," said the IMF official, who is familiar with the preparation of the outlook. "While manufacturing activity has been weak, we also see resilience in the services sector and consumer confidence is holding up. The question is how long that resilience can last, and we are monitoring carefully all indicators," said the official, who was not authorized to speak publicly.

The fund issues an economic outlook twice a year to coincide with its spring and fall meetings, forecasting global gross domestic product for the current year and the following year.

Also Read: India, Pakistan officials discuss technical aspects of Kartarpur corridor


TRENDING

OPINION / BLOG / INTERVIEW

Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...

Videos

Latest News

Tennis-Nishikori battles past Evans in five sets

Japans Kei Nishikori surrendered two sets 6-1 but still managed to battle past Britains Dan Evans on Sunday and into the second round of the French Open.The 30-year-old, playing only his fifth match of the season after a recovery from elbow...

JK: Open roof tourist luxury bus for Suchetgarh border launched on World Tourism Day

As part of the border tourism initiative, authorities in Jammu on Sunday flagged off the first of its kind Garud Seva Open Roof tourist luxury bus with the slogan Chalo Suchetgarh Border here, an official spokesman said. The launch of the b...

Delhi records over 40 COVID-19 deaths for 2nd straight day

The national capital reported 42 COVID-19 fatalities on Sunday, taking the number of deaths to 5,235, while 3,292 fresh cases pushed the infection tally to 2,71,114. This is the second day on the trot when the city reported more than 40 cor...

Fire brigade staff foil man's suicide bid

Thane, Sep 27 PTITwo fire brigade staffers foiled a mans attempt to end his life in Thane city of Maharashtra on Sunday, an official said. The incident took place around 8.30 pm in Panchpakhadi area, he said.The Thane fire brigade staffers ...

Give Feedback