• Latest
  • Trending
IMF Chief Christine Lagarde

IMF warns: Global economic growth narrowing

October 15, 2018
appointments:-enugu-north-unfairly-treated-–-buhari-movement

Appointments: Enugu North unfairly treated – Buhari Movement

July 13, 2020
federal-legislator-advocates-cancellation-of-annual-recess-over-critical-bills

Federal legislator advocates cancellation of annual recess over critical bills

July 13, 2020
covid-19:-bill-gates-is-linked-to-666-–-pastor-chris-okotie-reveals-satan’s-plans

COVID-19: Bill Gates is linked to 666 – Pastor Chris Okotie reveals Satan’s plans

July 13, 2020
ogun-nnpp-fires-abiodun-as-bridge-collapses-less-than-one-year-after-construction

NNPP fires Abiodun as bridge collapses less than one year after construction

July 13, 2020
efcc:-magu-worked-for-osinbajo,-tinubu,-they-are-his-godfathers-–-fani-kayode

EFCC: Magu worked for Osinbajo, Tinubu, they are his godfathers – Fani-Kayode

July 13, 2020
covid-19:-ncdc-announces-discharge-of-13,447-patients,-571-new-cases

COVID-19: NCDC announces discharge of 13,447 patients, 571 new cases

July 13, 2020
magu:-buhari,-apc-against-corruption-–-spokesman,-nabena

Magu: Buhari, APC against corruption – Yekini Nabena

July 13, 2020
malami-breaks-silence-on-approving-auctioning-of-seized-oil-vessels

Malami breaks silence on approving auctioning of seized oil vessels

July 12, 2020
nigerian-troops-kill-scores-of-bandits,-rescue-kidnapped-victims-in-sokoto,-zamfara

Nigerian troops kill scores of bandits, rescue kidnapped victims in Sokoto, Zamfara

July 12, 2020
kwara-deputy-governor’s-staff-contract-covid-19

Kwara Deputy Governor’s staff contract COVID-19

July 12, 2020
how-nigerian-govt,-states,-lgs-shared-n7.8-trn-in-2019-[breakdown]

How Nigerian govt, States, LGs shared N7.8 trn in 2019

July 12, 2020
covid-19:-guidelines-for-school-reopening-in-akwa-ibom-unrealistic,-tough-–-proprietors

COVID-19: Guidelines for school reopening in Akwa Ibom unrealistic, tough – Proprietors

July 12, 2020
  • About Us
  • Contact Us
  • Disclaimer
  • Home
  • Privacy Policy
Sunday, June 26, 2022
Nigerian News
  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security
No Result
View All Result
Nigerian News
  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security
No Result
View All Result
Nigerian News
No Result
View All Result

IMF warns: Global economic growth narrowing

by Olalere Abolore
October 15, 2018
0
IMF Chief Christine Lagarde

IMF Chief Christine Lagarde

782
SHARES
6.5k
VIEWS
Share on FacebookShare on Twitter

The window of opportunity for safeguarding global growth is “narrowing” as trade disputes deepen and emerging markets face fiscal crisis, the IMF said Saturday.

It warned countries against worsening things by weaponising currency and interest-rate policies.

ReadAlso

COVID-19: Cross River Govt counters WHO on face mask

Coronavirus: Death toll in US exceeds China

US Treasury Secretary Steven Mnuchin had downplayed the global concerns expressed at an International Monetary Fund meeting held this week in Bali under the shadow of US-China tensions, saying the world would benefit if Beijing is forced to change its trade policies.

READ ALSO: Sales of electric vehicles jump 81 % in China

Web Hosting in Nigeria

But the IMF said in a communique that while global growth currently remained “steady”, the risks are “increasingly skewed to the downside amid heightened trade tensions and ongoing geopolitical concerns”.

The Fund kicked off its annual meeting with the World Bank on the Indonesian resort island earlier in the week in a gloomy mood, preoccupied by the trade tussle between the world’s two biggest economies, and tightening financial conditions faced by emerging markets.

On Tuesday, it cut its outlook for global GDP growth by 0.2 percentage points to 3.7 percent for 2018 and 2019, citing the trade war.

“The window of opportunity (is) narrowing,” the 189-country organisation said, adding that members would “refrain from competitive (currency) devaluations and will not target our exchange rates for competitive purposes” — a line apparently aimed at the US and China.

Mnuchin this week said he had told the head of China’s central bank about his concerns over the weakness of its currency.

US President Donald Trump has accused Beijing of depreciating its currency to absorb the impact of US trade tariffs.

But Mnuchin, speaking on the Bali meeting’s sidelines, declined to comment on whether Washington would declare Beijing a “currency manipulator” in a Treasury report due out next week.

That would be a first for China, triggering a process that could lead to punitive steps.

Mnuchin also pushed back against the growing global angst over the US-China trade fight, saying that pressuring Beijing into adopting more open trade policies would be good for all.

“Our objective with China is very clear: it’s to have a more balanced trading relationship,” he said.

“I think that if we are successful, this is very good for US companies, US workers, Europeans, Japan, all of our other allies, and good for China.”

The argument gained little traction in Bali on Saturday.

READ ALSO: UN indicts China, S/Arabia over death penalty

“Trade conflict would be bad for all economies, not just the US and China,” Japanese central bank governor Haruhiko Kuroda said.

“This type of thing will not be good for the US economy, the China economy, but also for the economies of Asia and the world.”

Tensions have soared recently with Trump’s administration rolling out billions of dollars in tariffs against China in a bid to tackle its trade deficit and rein in what Washington considers unacceptable Chinese trade practices.

Mnuchin said Washington’s ultimate goal was a “free, fair and reciprocal relationship” with Beijing.

Nigerian's news

Email us @ info[at]nigerians.news
Previous Post

Sales of electric vehicles jump 81 % in China

Next Post

Shittu sues APC over NYSC certificate

Related Posts

ogun-nnpp-fires-abiodun-as-bridge-collapses-less-than-one-year-after-construction
Featured

NNPP fires Abiodun as bridge collapses less than one year after construction

July 13, 2020
efcc:-magu-worked-for-osinbajo,-tinubu,-they-are-his-godfathers-–-fani-kayode
Anti-corruption

EFCC: Magu worked for Osinbajo, Tinubu, they are his godfathers – Fani-Kayode

July 13, 2020
how-nigerian-govt,-states,-lgs-shared-n7.8-trn-in-2019-[breakdown]
Economy

How Nigerian govt, States, LGs shared N7.8 trn in 2019

July 12, 2020
buhari-told-to-sack-buratai-now
Featured

Sack Buratai Now – Olusegun

July 12, 2020
nddc-n40-billion-alleged-scam:-akpabio,-ex-md-trade-tackles
Anti-corruption

NDDC N40 billion alleged scam: Akpabio, Ex-MD trade tackles

July 12, 2020
usman-vs-masvidal:-buhari-reacts-as-nigerian-retains-ufc-title
Featured

Usman vs Masvidal: Buhari reacts as Nigerian retains UFC title

July 12, 2020
Next Post
Adebayo Shittu

Shittu sues APC over NYSC certificate

Cheap Web hosting in Nigeria

Popular News

Wizkid, Quavo congratulate Davido, Chioma over birth of son

Nigeria at 58: An emerging envy of the world

Prince Charles: I will not be a meddlesome king

Many faces of Nigerian female migrants in Castel Volturno in Italy

Nigerian churches seize gospel initiative in UK

The Osinbajos mark 29th wedding anniversary

Services sector up by 1.83 % in 2018 – NBS

6 Kidnapped Kuje residents rescued – Police, Community confirm

Osinbajo, Jonathan at Dunamis Church

IDPs attack ActionAid Officials

Subscribe to Nigerian's news Alert

Enter your email address to subscribe to Nigerian's news and receive notifications of new posts by email.

Join 245 other subscribers

Nigerian News

© 2019 Nigerian's news | Designed by Afeeshost

Quick Links

  • About Us
  • Contact Us
  • Disclaimer
  • Home
  • Privacy Policy

Follow Us

  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security

© 2019 Nigerian's news | Designed by Afeeshost

×

Like us on Facebook

Posting....