International Monetary Fund predicts India will grow at 7.3% in 2018-’19

US / China trade war and Brexit threaten global growth says IMF

US / China trade war and Brexit threaten global growth says IMF

In its World Economic Outlook report released in July 2018, the Bretton Wood Institution had projected that Nigeria's economy would grow by 2.1% in 2018 and 2.3% in 2019.

In September 2018 Donald Trump imposed tariffs worth $200 billion on Chinese goods and threatened to sign off on a further $267 billion - an escalation in a tariff war that, at that point, had only seen both countries levy tit-for-tat duties on each other's imports.

The IMF pointed out that a full-blown trade war between the world's largest and second largest economies will cause a significant dent to the economic recovery from the Great Recession of 2018.

Both of those figures would mark the slowest rate of expansion for China since 1990, when growth shuddered in the aftermath of the violent suppression of massive Tiananmen Square pro-democracy demonstrations the previous year.

With all these factors combined, growth in Asia could drop by up to 0.9 points over the next couple of years, the International Monetary Fund estimated.

The IMF in its World Economic Outlook 2018 noted that "Nigeria's projected economic growth in the sub-Sahara Africa from 3.1 percent this year to 3.8 percent in 2019 is not enough to create the needed jobs for the growing population of the region". In September, Trump imposed tariffs on almost $200 billion of Chinese imports, with China responding with higher tariffs on about $60 billion of US imports.

Besides, the Azerbaijani government expects the growth of the country's GDP at the level of 2 percent for this year, 3.19 percent for 2019, and 3.5 percent for 2020.

James Milner targeting Liverpool return from injury inside a month
But I don't think about [the abuse] because even, if that happens, being so young, maybe it affects him, maybe it doesn't. Keita has played in all eight games though only started four of them and is yet to score.

The IMF also took aim at Brexit in its assessment, as it warned how slow progress in thrashing out an European Union divorce deal for Britain is creating "pervasive uncertainty" about future trade costs.

Once again, that position runs contrary to the Bank of England which has said that it would most likely increase interest rates after a no deal Brexit.

The Swiss figures go against the current global economic growth trend, which the International Monetary Fund has reduced from its previous estimate of 3.9% to 3.7% for 2018 and 2019.

"An intensification of trade tensions and the associated further rise in policy uncertainty could dent business and financial market sentiment, trigger financial market volatility, and slow investment and trade", the report said.

"The fast rise in worldwide oil prices, normalization of U.S. monetary policy, and tightening financial conditions for emerging markets are adding to this hard picture".

But the outgoing chief economist - who retires from the Fund later this year - added that it was a "mixed picture" with some Latin American and African nations getting growth forecast upgrades.

China's rate of growth could decline by as much as a full percentage point or more by 2019 if a "worst-case" scenario materialises, involving further tariffs, a commensurate Chinese counter-response and a collapse in confidence by businesses and markets.

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