Technology could widen the gender employment gap, the IMF warns

Technology is often espoused as a great leveler, enabling sudden and sweeping economic progress for huge swathes of society. But it could also play a role in perpetuating a major societal divide: The gender employment gap. That’s according to a new report from the International Monetary Fund, which found that women face a greater threat of losing their jobs to technology than their male counterparts. Up to 26 million women in major economies could see their jobs displaced within the next two dec


Technology is often espoused as a great leveler, enabling sudden and sweeping economic progress for huge swathes of society. But it could also play a role in perpetuating a major societal divide: The gender employment gap. That’s according to a new report from the International Monetary Fund, which found that women face a greater threat of losing their jobs to technology than their male counterparts. Up to 26 million women in major economies could see their jobs displaced within the next two dec
Technology could widen the gender employment gap, the IMF warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: karen gilchrist
Keywords: news, cnbc, companies, report, technology, imf, jobs, warns, employment, women, skills, gender, prone, men, major, tasks, perform, widen, gap


Technology could widen the gender employment gap, the IMF warns

Technology is often espoused as a great leveler, enabling sudden and sweeping economic progress for huge swathes of society.

But it could also play a role in perpetuating a major societal divide: The gender employment gap.

That’s according to a new report from the International Monetary Fund, which found that women face a greater threat of losing their jobs to technology than their male counterparts.

Up to 26 million women in major economies could see their jobs displaced within the next two decades, if technology continues at its current rate, the IMF found.

That puts 11% at high risk (a 70% likelihood) of job disruption compared to 9% of men, which the report said could lead to a further widening of the pay gap between men and women.

The disparity noted by the report is led primarily by occupational divides, which see women disproportionately represented in low-skilled, clerical and sales roles that are routine-heavy and therefore prone to automation. That’s a result of both “self-selection” — women choosing certain professions — as well as exposure, the report said.

“We find that women, on average, perform more routine or codifiable tasks than men across all sectors and occupations ― tasks that are more prone to automation,” the report’s authors wrote.

“Moreover, women perform fewer tasks requiring analytical input or abstract thinking (e.g., information-processing skills), where technological change can be complementary to human skills and improve labor productivity,” it added.


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: karen gilchrist
Keywords: news, cnbc, companies, report, technology, imf, jobs, warns, employment, women, skills, gender, prone, men, major, tasks, perform, widen, gap


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Cryptocurrencies are ‘clearly shaking the system,’ IMF’s Lagarde says

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. “I think the role of the disruptors and anything that is using distributed


Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. “I think the role of the disruptors and anything that is using distributed
Cryptocurrencies are ‘clearly shaking the system,’ IMF’s Lagarde says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, financial, system, clearly, stability, warned, using, think, imfs, imf, shaking, lagarde, cryptocurrencies, currencies, technology


Cryptocurrencies are 'clearly shaking the system,' IMF's Lagarde says

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund.

Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents.

“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” she said.

The IMF boss warned that such financial industry changes must be accompanied by regulation.

“We don’t want innovation that would shake the system so much that we would lose the stability that is needed,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, financial, system, clearly, stability, warned, using, think, imfs, imf, shaking, lagarde, cryptocurrencies, currencies, technology


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Cryptocurrencies are ‘clearly shaking the system,’ IMF’s Lagarde says

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. “I think the role of the disruptors and anything that is using distributed


Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. “I think the role of the disruptors and anything that is using distributed
Cryptocurrencies are ‘clearly shaking the system,’ IMF’s Lagarde says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, financial, system, clearly, stability, warned, using, think, imfs, imf, shaking, lagarde, cryptocurrencies, currencies, technology


Cryptocurrencies are 'clearly shaking the system,' IMF's Lagarde says

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund.

Speaking to CNBC on Wednesday, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents.

“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” she said.

The IMF boss warned that such financial industry changes must be accompanied by regulation.

“We don’t want innovation that would shake the system so much that we would lose the stability that is needed,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, financial, system, clearly, stability, warned, using, think, imfs, imf, shaking, lagarde, cryptocurrencies, currencies, technology


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IMF raises its 2019 growth forecast for China

The International Monetary Fund upgraded its 2019 growth forecast for China, citing Beijing’s effort to support the economy and improved outlook for the Asian giant’s tariff fight with the U.S.IMF said in its latest World Economic Outlook report that China is projected to grow by 6.3 percent this year, higher than the fund’s previous forecast of 6.2 percent. The latest report, released Tuesday, is widely read globally for the IMF’s assessment of the world economy. China’s economy, the second-lar


The International Monetary Fund upgraded its 2019 growth forecast for China, citing Beijing’s effort to support the economy and improved outlook for the Asian giant’s tariff fight with the U.S.IMF said in its latest World Economic Outlook report that China is projected to grow by 6.3 percent this year, higher than the fund’s previous forecast of 6.2 percent. The latest report, released Tuesday, is widely read globally for the IMF’s assessment of the world economy. China’s economy, the second-lar
IMF raises its 2019 growth forecast for China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: yen nee lee
Keywords: news, cnbc, companies, raises, imf, china, world, usimf, report, economy, forecast, growth, widely, 2019, outlook, worst, latest


IMF raises its 2019 growth forecast for China

The International Monetary Fund upgraded its 2019 growth forecast for China, citing Beijing’s effort to support the economy and improved outlook for the Asian giant’s tariff fight with the U.S.

IMF said in its latest World Economic Outlook report that China is projected to grow by 6.3 percent this year, higher than the fund’s previous forecast of 6.2 percent. The latest report, released Tuesday, is widely read globally for the IMF’s assessment of the world economy.

China’s economy, the second-largest in the world, grew by 6.6. percent last year — its worst performance in 28 years.


Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: yen nee lee
Keywords: news, cnbc, companies, raises, imf, china, world, usimf, report, economy, forecast, growth, widely, 2019, outlook, worst, latest


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IMF cuts 2019 growth outlook again, says risks are ‘skewed to the downside’

The fund said it expects the world economy to grow by 3.3% this year. Meanwhile, the Trump administration is trying to hammer out another trade deal with China. Canada and Mexico are two of the three largest U.S. trade partners and made up 30% of U.S. global trade in 2018, according to data from the Census Bureau. “Higher trade policy uncertainty and concerns of escalation and retaliation would reduce business investment, disrupt supply chains, and slow productivity growth,” according to the IMF


The fund said it expects the world economy to grow by 3.3% this year. Meanwhile, the Trump administration is trying to hammer out another trade deal with China. Canada and Mexico are two of the three largest U.S. trade partners and made up 30% of U.S. global trade in 2018, according to data from the Census Bureau. “Higher trade policy uncertainty and concerns of escalation and retaliation would reduce business investment, disrupt supply chains, and slow productivity growth,” according to the IMF
IMF cuts 2019 growth outlook again, says risks are ‘skewed to the downside’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: fred imbert
Keywords: news, cnbc, companies, growth, trump, market, skewed, world, downside, economy, global, outlook, imf, deal, 2019, risks, trade, policy, fund, cuts


IMF cuts 2019 growth outlook again, says risks are 'skewed to the downside'

The International Monetary Fund again reduced its global economic growth forecast for 2019 on Tuesday, citing risks like increasing trade tensions and tighter monetary policy by the Federal Reserve.

The fund said it expects the world economy to grow by 3.3% this year. That’s down from its previous outlook of 3.5%, which was also a downgrade. The IMF added that it expects the economy to expand by 3.6% in 2020, however.

The IMF’s report comes as Congress struggles to pass the United States-Mexico-Canada Agreement (USMCA), a trade deal signed by President Donald Trump and his Mexican and Canadian counterparts at the time, which would replace the existing North Atlantic Free Trade Agreement (NAFTA). Meanwhile, the Trump administration is trying to hammer out another trade deal with China.

“The balance of risks remains skewed to the downside,” the IMF said. “Failure to resolve differences and a resulting increase in tariff barriers above and beyond what is incorporated into the forecast would lead to higher costs of imported intermediate and capital goods and higher final goods prices for consumers.”

The USMCA was signed Nov. 30, but has not yet received congressional approval and getting it through the legislative body will be tough for the administration. The deal has to get through the Democrat-controlled House and was criticized by Republican Sen. Chuck Grassley. He noted that tariffs on Mexican and Canadian goods should be waved off once a deal is ratified. Trump, however, has not indicated his willingness to do so.

If the deal between the three countries falls through, the ramifications for the U.S. economy would be massive. Canada and Mexico are two of the three largest U.S. trade partners and made up 30% of U.S. global trade in 2018, according to data from the Census Bureau.

“Higher trade policy uncertainty and concerns of escalation and retaliation would reduce business investment, disrupt supply chains, and slow productivity growth,” according to the IMF. “The resulting depressed outlook for corporate profitability could dent financial market sentiment and further dampen growth.”

The U.S. is also trying to strike a deal with China, its largest trade partner. China alone accounted for nearly 16% of U.S. global trade last year, Census data shows. But while negotiations between the two countries are still ongoing, the outlook seems promising.

On March 27, Reuters reported China had made unprecedented progress on issues like forced technology transfers, which have been sticking points during its negotiations with the U.S. Trump also said on Thursday “we’ll know over the next four weeks” whether a deal between the world largest economies can be struck.

The apparent progress in U.S.-China trade negotiations has boosted world stocks this year. The iShares MSCI World exchange-traded fund (URTH) is up more than 15% in 2019. The S&P 500 also has rallied more than 15%.

But failure to strike a deal would hurt the U.S. economically and would also derail China’s efforts to reinvigorate its economy, the IMF warns. China’s economy expanded by 6.6% in 2018, which was its slowest pace in nearly 30 years.

Another risk to global economic growth, according to the fund, is a change in monetary policy by central banks, especially the Federal Reserve.

The Fed reversed its stance on policy earlier this year, eliminating all expectations for even a single rate hike for 2019. This follows four rate increases by the U.S. central bank in 2018. The Fed’s reversal contributed to the market’s hot start to 2019, with the S&P 500 notching its biggest first-quarter gain since 1998.

However, the IMF said: “The market-implied path of expected policy rates remains below the Federal Open Market Committee’s projections, raising the possibility of a market reassessment of the expected policy path if US economic data remain strong. This could result in higher US interest rates, renewed dollar appreciation, and tighter financial conditions for emerging market and developing economies with balance sheet vulnerabilities.”

Other risks highlighted by the IMF include a no-deal Brexit, political uncertainty as several countries around the world hold elections and geopolitical tensions in East Asia.

— CNBC’s Jacob Pramuk contributed to this report.

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Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: fred imbert
Keywords: news, cnbc, companies, growth, trump, market, skewed, world, downside, economy, global, outlook, imf, deal, 2019, risks, trade, policy, fund, cuts


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Greece is ‘now among the top performers in the euro zone,’ IMF says

Greece, the euro zone economy that suffered the most during the sovereign debt crisis and a country with the highest debt and unemployment, is now “among the top performers in the euro zone,” according to the International Monetary Fund (IMF). In a new report on the Greek economy, the IMF – which was one of Greece’s principal lenders in bailouts during its economic crisis – said Greece had made positive economic progress. We expect growth to accelerate to nearly 2.5 percent this year from around


Greece, the euro zone economy that suffered the most during the sovereign debt crisis and a country with the highest debt and unemployment, is now “among the top performers in the euro zone,” according to the International Monetary Fund (IMF). In a new report on the Greek economy, the IMF – which was one of Greece’s principal lenders in bailouts during its economic crisis – said Greece had made positive economic progress. We expect growth to accelerate to nearly 2.5 percent this year from around
Greece is ‘now among the top performers in the euro zone,’ IMF says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: holly ellyatt, angelos tzortzinis, bloomberg, getty images
Keywords: news, cnbc, companies, economy, greece, euro, european, expect, economic, growth, zone, performers, positive, report, imf


Greece is 'now among the top performers in the euro zone,' IMF says

Greece, the euro zone economy that suffered the most during the sovereign debt crisis and a country with the highest debt and unemployment, is now “among the top performers in the euro zone,” according to the International Monetary Fund (IMF).

In a new report on the Greek economy, the IMF – which was one of Greece’s principal lenders in bailouts during its economic crisis – said Greece had made positive economic progress.

“There are a lot of positive developments to point to. We expect growth to accelerate to nearly 2.5 percent this year from around 2 percent in 2018. This puts Greece in the upper tier of the euro zone growth table,” the IMF’s mission chief for Greece Peter Dohlman said in a report Tuesday.

“The government is meeting its ambitious fiscal targets agreed with European member states, though not without some cost to growth. Market access has been re-established with two successful government bond issuances this year.”

“We also see normalization in other areas. For example, customers are now free to move their cash to any bank in Greece, and the banks themselves have almost fully repaid emergency liquidity assistance provided by the European Central Bank. Over the medium-term, we expect growth to gradually moderate as the economy reaches full employment,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: holly ellyatt, angelos tzortzinis, bloomberg, getty images
Keywords: news, cnbc, companies, economy, greece, euro, european, expect, economic, growth, zone, performers, positive, report, imf


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Ukraine rows back on anti-corruption law putting IMF aid in jeopardy

A decision by Ukraine’s constitutional court to row back on a key anti-corruption law may have repercussions for the country’s relationship with the International Monetary Fund (IMF). This week, Ukraine’s constitutional court rejected an anti-corruption law that would have made the illegal enrichment of officials a criminal act, according to a state news agency. Introducing anti-corruption laws is a key component of the international aid for Ukraine, and crucially was one of the conditions that


A decision by Ukraine’s constitutional court to row back on a key anti-corruption law may have repercussions for the country’s relationship with the International Monetary Fund (IMF). This week, Ukraine’s constitutional court rejected an anti-corruption law that would have made the illegal enrichment of officials a criminal act, according to a state news agency. Introducing anti-corruption laws is a key component of the international aid for Ukraine, and crucially was one of the conditions that
Ukraine rows back on anti-corruption law putting IMF aid in jeopardy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-01  Authors: holly ellyatt, mykola lazarenko, ukrainian presidential press service
Keywords: news, cnbc, companies, jeopardy, anticorruption, law, state, key, enrichment, relationship, ukraines, putting, imf, court, ukraine, aid, rows, illegal, international


Ukraine rows back on anti-corruption law putting IMF aid in jeopardy

A decision by Ukraine’s constitutional court to row back on a key anti-corruption law may have repercussions for the country’s relationship with the International Monetary Fund (IMF).

This week, Ukraine’s constitutional court rejected an anti-corruption law that would have made the illegal enrichment of officials a criminal act, according to a state news agency. And the decision cannot be appealed.

Introducing anti-corruption laws is a key component of the international aid for Ukraine, and crucially was one of the conditions that it had to meet as part of its $17.5 billion bailout package from the IMF.

“Any about-turn in the anti-corruption reform would be a huge blow to Ukraine’s relationship with the IMF and other Western partners — indeed, the EU has already expressed their concerns about the latest development,” Liza Ermolenko, an emerging Europe economist at Barclays, told CNBC Thursday.

The court ruled that provisions of the article within the country’s criminal code failed to comply with the principles of law and the presumption of innocence until proven guilty, according to state news. Critics of the law reportedly said that “the article on illegal enrichment obliges the suspect to prove (the) legitimacy of his revenues’ origin, whereas the law places the burden of proving wrongdoing solely on the side of prosecution.”


Company: cnbc, Activity: cnbc, Date: 2019-03-01  Authors: holly ellyatt, mykola lazarenko, ukrainian presidential press service
Keywords: news, cnbc, companies, jeopardy, anticorruption, law, state, key, enrichment, relationship, ukraines, putting, imf, court, ukraine, aid, rows, illegal, international


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US markets are set to slip: Dow futures point to a decline of more than 150 points at the open

Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday. That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos. Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open. The report by the IMF came just hours after China reported its slowest economic growth in almost three de


Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday. That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos. Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open. The report by the IMF came just hours after China reported its slowest economic growth in almost three de
US markets are set to slip: Dow futures point to a decline of more than 150 points at the open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: eustance huang
Keywords: news, cnbc, companies, warning, stateside, stocks, set, uk, trade, points, 150, futures, point, economic, imf, dow, markets, open, declines, growth, decline, slip


US markets are set to slip: Dow futures point to a decline of more than 150 points at the open

Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday.

That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos.

Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. That translated to an implied drop of 153.35 for the Dow at the upcoming open. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open.

If those implied declines come to fruition, that would be a change of pace for American markets: The Dow notched its first 4-week winning streak since August last Friday. U.S. stocks did not trade on Monday because of Martin Luther King Jr. Day.

Over in Asia, stocks struggled for gains on Tuesday amid concerns about the global economic outlook after the International Monetary Fund (IMF) slashed its global growth forecast on Monday, warning that the economic momentum observed in recent years is decelerating.

The IMF now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020. Those are 0.2 and 0.1 percentage points, respectively, below its last forecasts in October — making it the second downward revision in three months.

The report by the IMF came just hours after China reported its slowest economic growth in almost three decades.

Meanwhile, over in Davos, Switzerland, a prominent U.K. investor sounded an alarm on the market impact of events such as the ongoing China-U.S. trade war and uncertainty surrounding Brexit.

“(There’s) a lot of geopolitical risk between the U.S. and China — certainly we are in a worse place than we were a year ago,” Martin Gilbert, the co-CEO of British investment company Standard Life Aberdeen, told CNBC.

At the same time, the U.K. inches closer to its official departure date from the European Union of March 29 with no deal in sight, leaving the country with the possibility of crashing out of the EU without a formal agreement — something that business leaders and industry experts have been warning about since the negotiations began.

All that comes as the U.S. grapples with its own troubles politically, with the country still mired in its longest-ever government shutdown, which has left about 800,000 federal workers going without pay.

— CNBC’s Silvia Amaro contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: eustance huang
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IMF Chair Christine Lagarde cuts global growth forecast for 2019 to 3.5 percent

IMF Managing Director Christine Lagarde said the IMF modestly cut its global growth forecast for 2019 to 3.5 percent from 3.7 percent. “Six months ago these were threats, but they were not at the level of magnitude we have now,” Lagarde told CNBC. Now we are seeing the ripple effects these issues are having on the global economy, she said. Right now there is uncertainty over when these risks will be resolved, Lagarde said. “This is a big uncertainty for Europe, and the role played by London as a


IMF Managing Director Christine Lagarde said the IMF modestly cut its global growth forecast for 2019 to 3.5 percent from 3.7 percent. “Six months ago these were threats, but they were not at the level of magnitude we have now,” Lagarde told CNBC. Now we are seeing the ripple effects these issues are having on the global economy, she said. Right now there is uncertainty over when these risks will be resolved, Lagarde said. “This is a big uncertainty for Europe, and the role played by London as a
IMF Chair Christine Lagarde cuts global growth forecast for 2019 to 3.5 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: lori ioannou, adam galica
Keywords: news, cnbc, companies, uncertainty, global, cuts, trade, forecast, christine, chair, months, 2019, issues, growth, 35, risks, imf, lagarde, resolved, level


IMF Chair Christine Lagarde cuts global growth forecast for 2019 to 3.5 percent

IMF Managing Director Christine Lagarde said the IMF modestly cut its global growth forecast for 2019 to 3.5 percent from 3.7 percent. Speaking at the World Economic Forum in Davos, Switzerland, on Tuesday, she said the move was due to the high level of economic risks that are accelerating around the globe. These include the U.S.-China trade war, Brexit and China’s slowing economy.

“Six months ago these were threats, but they were not at the level of magnitude we have now,” Lagarde told CNBC. Now we are seeing the ripple effects these issues are having on the global economy, she said. Among them: tariff increases that are shaking up markets and boosting volatility particularly in advanced economies. “There is a compounding effect to all this. Market values have changed dramatically over the last few months,” she points out.

Right now there is uncertainty over when these risks will be resolved, Lagarde said. Take Brexit, for example. No one knows if the U.K.’s withdrawal from the European Union will be resolved by the March 11 deadline or if it will be a no-deal exit. Last week Parliament overwhelmingly rejected British Prime Minister Theresa May’s proposal for a deal. “This is a big uncertainty for Europe, and the role played by London as a key financial center,” she said.

On the trade front, the IMF chief noted there has been progress. The new U.S.-Mexico-Canada Agreement has been resolved, and the TPP 11 (Trans-Pacific Partnership agreement) has been ratified by seven members and is now in place. “These are all positives, but you still have the big elephant in the room: the U.S. and China that have to resolve trade disputes over issues of intellectual property, state-owned entities, subsidies and the balance of trade.”


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: lori ioannou, adam galica
Keywords: news, cnbc, companies, uncertainty, global, cuts, trade, forecast, christine, chair, months, 2019, issues, growth, 35, risks, imf, lagarde, resolved, level


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IMF says the global economic expansion is losing momentum as it cuts growth forecasts

The International Monetary Fund (IMF) revised down its estimates for global growth on Monday, warning that the expansion seen in recent years is losing momentum. The Fund now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020. These are 0.2 and 0.1 percentage points below its last forecasts in October — making it the second downturn revision in three months. In October, the IMF cut its global growth forecasts on the back of increased trade tariffs between China and th


The International Monetary Fund (IMF) revised down its estimates for global growth on Monday, warning that the expansion seen in recent years is losing momentum. The Fund now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020. These are 0.2 and 0.1 percentage points below its last forecasts in October — making it the second downturn revision in three months. In October, the IMF cut its global growth forecasts on the back of increased trade tariffs between China and th
IMF says the global economic expansion is losing momentum as it cuts growth forecasts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: silvia amaro
Keywords: news, cnbc, companies, world, projects, global, economic, cuts, revision, growth, recent, fund, imf, momentum, risks, expansion, forecasts, rate, losing


IMF says the global economic expansion is losing momentum as it cuts growth forecasts

The International Monetary Fund (IMF) revised down its estimates for global growth on Monday, warning that the expansion seen in recent years is losing momentum.

The Fund now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020. These are 0.2 and 0.1 percentage points below its last forecasts in October — making it the second downturn revision in three months.

Speaking at the World Economic Forum in Davos, the IMF’s Managing Director Christine Lagarde said: “After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising. But even as the economy continues to move ahead … it is facing significantly higher risks.”

In October, the IMF cut its global growth forecasts on the back of increased trade tariffs between China and the United States. It said the latest revision is due in part to carry over from last year, mentioning weakness for German auto manufacturers due to new fuel emission standards, and soft domestic demand in Italy after recent sovereign and financial risks. But the IMF also highlighted weakening sentiment in the global financial markets and a contraction in Turkey that’s now projected to be deeper than anticipated.

According to the Fund, advanced economies have been on a declining path in terms of growth and this is taking place more rapidly than previously thought. These countries are forecast to grow 2 percent this year and 1.7 percent in 2020.

At the same time, there’s also been a growth slowdown in emerging economies. The IMF projects a 4.5 percent growth rate in 2019, from 4.6 percent in 2018, before improving to 4.9 percent in 2020.


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: silvia amaro
Keywords: news, cnbc, companies, world, projects, global, economic, cuts, revision, growth, recent, fund, imf, momentum, risks, expansion, forecasts, rate, losing


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