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
Keywords: news, cnbc, companies, warning, stateside, stocks, set, uk, trade, points, 150, futures, point, economic, imf, dow, markets, open, declines, growth, decline, slip


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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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Pakistani rupee plunges about 6 percent in what traders say could be a central bank devaluation

The Pakistani rupee plunged about 6 percent on Friday in what dealers suspected was the sixth currency devaluation by the central bank in the past 12 months, linking the move to ongoing bailout talks with the International Monetary Fund (IMF). The rupee tumbled to about 143 per dollar in early trading before paring some of the losses to trade at 141/142 level, or about 5.5 percent weaker by 0515 GMT, market participants said. The rupee has lost about 35 percent since the first devaluation in Dec


The Pakistani rupee plunged about 6 percent on Friday in what dealers suspected was the sixth currency devaluation by the central bank in the past 12 months, linking the move to ongoing bailout talks with the International Monetary Fund (IMF). The rupee tumbled to about 143 per dollar in early trading before paring some of the losses to trade at 141/142 level, or about 5.5 percent weaker by 0515 GMT, market participants said. The rupee has lost about 35 percent since the first devaluation in Dec
Pakistani rupee plunges about 6 percent in what traders say could be a central bank devaluation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: asif hassan afp getty images
Keywords: news, cnbc, companies, visit, rupee, traders, say, central, officials, weaker, package, imf, bailout, pakistani, tumbled, devaluation, bank, plunges


Pakistani rupee plunges about 6 percent in what traders say could be a central bank devaluation

The Pakistani rupee plunged about 6 percent on Friday in what dealers suspected was the sixth currency devaluation by the central bank in the past 12 months, linking the move to ongoing bailout talks with the International Monetary Fund (IMF).

The rupee tumbled to about 143 per dollar in early trading before paring some of the losses to trade at 141/142 level, or about 5.5 percent weaker by 0515 GMT, market participants said.

The rupee has lost about 35 percent since the first devaluation in December 2017, as officials have sought to bring under control a ballooning current deficit that threatens to trigger a balance of payments crisis.

This month Pakistani and the IMF failed to agree on a bailout package during a visit by an IMF delegation, with Pakistani officials setting mid-January as the target date for the country to obtain its second assistance package since 2013, when the IMF loaned Pakistan$6.7 billion.

“It’s positive. If they’re doing what IMF is telling them, and they go for the bailout, it’s a good thing for the economy,” said Saad Hashemy, chief economist at local brokerage Topline Securities.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: asif hassan afp getty images
Keywords: news, cnbc, companies, visit, rupee, traders, say, central, officials, weaker, package, imf, bailout, pakistani, tumbled, devaluation, bank, plunges


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‘Multiple and intertwined risks’ cloud outlook for the Middle East and its neighbors, IMF says

Major oil producing countries in the Middle East and its neighbors might benefit from higher crude prices in 2019, according to the latest outlook from International Monetary Fund (IMF), but there are numerous uncertainties in the region. The Fund’s latest regional economic outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, published Tuesday, warns that “multiple and intertwined risks cloud the outlook of the MENAP region.” Oil producing countries in the Middle


Major oil producing countries in the Middle East and its neighbors might benefit from higher crude prices in 2019, according to the latest outlook from International Monetary Fund (IMF), but there are numerous uncertainties in the region. The Fund’s latest regional economic outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, published Tuesday, warns that “multiple and intertwined risks cloud the outlook of the MENAP region.” Oil producing countries in the Middle
‘Multiple and intertwined risks’ cloud outlook for the Middle East and its neighbors, IMF says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: holly ellyatt, getty images
Keywords: news, cnbc, companies, menap, imf, east, risks, neighbors, middle, latest, intertwined, growth, market, outlook, cloud, multiple, countries, oil


'Multiple and intertwined risks' cloud outlook for the Middle East and its neighbors, IMF says

Major oil producing countries in the Middle East and its neighbors might benefit from higher crude prices in 2019, according to the latest outlook from International Monetary Fund (IMF), but there are numerous uncertainties in the region.

The Fund’s latest regional economic outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, published Tuesday, warns that “multiple and intertwined risks cloud the outlook of the MENAP region.”

“These include a faster-than-anticipated tightening of global financial conditions, escalating trade tensions that could affect global growth and hurt key MENAP trading partners, geopolitical strains, and spillovers from regional conflicts,” the report stated.

These risks could trigger a deterioration in financial market sentiment and greater financial market volatility, the Fund said, “aggravating the financing challenges for countries with high levels of debt or large refinancing needs.”

Oil producing countries in the Middle East have traditionally relied on oil exports as their source of government revenue. Volatility in oil markets amid imbalances in supply and demand have prompted a number of countries, particularly in the Gulf, to look to diversify their economies away from oil and to create more jobs in other sectors of the economy. In its latest summary on the MENAP region’s outlook, it encouraged countries to commit to further reforms.

“The outlook and the rising risks underscore the need to intensify efforts to raise growth to levels that generate enough jobs for the benefit of all,” the IMF said. “In this context, countries should expand access to finance, strengthen governance, improve education outcomes, and enhance labor market flexibility, particularly in the Gulf Cooperation Council (GCC).”

To ensure that future fiscal adjustment is as growth-friendly and equitable as possible, the Fund said countries need to both prioritize expenditure on “growth-enhancing and high-quality investment in human capital and physical infrastructure, while sustaining well-targeted social spending.” It also advocated a move to a more progressive tax structure to diversify the governments’ revenue bases.

Jihad Azour, director of the Middle East and Central Asia at the IMF, told CNBC on Tuesday that the MENAP report comes amid an uncertain global growth outlook.

“Global conditions are changing in terms of the risk metrics,” Azour told CNBC’s Dan Murphy. “Although we’re still enjoying a high level of growth, that growth is plateauing,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: holly ellyatt, getty images
Keywords: news, cnbc, companies, menap, imf, east, risks, neighbors, middle, latest, intertwined, growth, market, outlook, cloud, multiple, countries, oil


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Global growth is slowing, and markets need to pay attention, IMF says

The IMF forecasts global growth for 2018-2019 to remain steady at its 2017 level of 3.7 percent, but the growth outlook for a number of major economies has been marked down. The United States has entered a serious tariff dispute with China, and it remains unclear how long that conflict will last. “Real GDP in the Euro area will slow to 1.9 percent in 2019, compared to 2.9 percent in 2018. Growth will also moderate in the United Kingdom, following surprises that suppressed activity in early 2018,


The IMF forecasts global growth for 2018-2019 to remain steady at its 2017 level of 3.7 percent, but the growth outlook for a number of major economies has been marked down. The United States has entered a serious tariff dispute with China, and it remains unclear how long that conflict will last. “Real GDP in the Euro area will slow to 1.9 percent in 2019, compared to 2.9 percent in 2018. Growth will also moderate in the United Kingdom, following surprises that suppressed activity in early 2018,
Global growth is slowing, and markets need to pay attention, IMF says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: dan murphy, fayez nureldine, afp, getty images, -international monetary fund
Keywords: news, cnbc, companies, global, attention, 2018, pay, imf, united, states, slowing, economies, 2019, growth, outlook, trade, need, markets, china


Global growth is slowing, and markets need to pay attention, IMF says

The IMF forecasts global growth for 2018-2019 to remain steady at its 2017 level of 3.7 percent, but the growth outlook for a number of major economies has been marked down.

In the United States, while the real GDP growth outlook for 2018 is unchanged at 2.9 percent, the forecast for 2019 has been revised down to 2.5 percent due to the recently announced trade measures.

The United States has entered a serious tariff dispute with China, and it remains unclear how long that conflict will last.

The outlook for emerging and developing economies is also weaker, reflecting downward revisions for some large emerging market economies due to country-specific factors, tighter financial conditions, geopolitical tensions and higher oil prices, according to the report.

“Real GDP in the Euro area will slow to 1.9 percent in 2019, compared to 2.9 percent in 2018. Growth will also moderate in the United Kingdom, following surprises that suppressed activity in early 2018,” it said.

The IMF blamed the recent trade measures between the United States and China for projected declining growth in China, which it now sees at 6.2 percent in 2019, 6.6 percent in 2018 and 6.9 percent in 2017.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: dan murphy, fayez nureldine, afp, getty images, -international monetary fund
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In the eye of the storm: IMF lowers Europe’s growth outlook due to ‘external turbulence’

Europe’s growth prospects are at risk from a more turbulent external environment with trade tensions and tighter financial conditions at the forefront of global headwinds, according to the latest regional outlook from the International Monetary Fund (IMF). Downgrading its growth forecasts for Europe for 2018 and 2019, the IMF said Thursday that the “the external environment has become less supportive and is expected to soften further in 2019 owing to slowing global demand, trade tensions and hig


Europe’s growth prospects are at risk from a more turbulent external environment with trade tensions and tighter financial conditions at the forefront of global headwinds, according to the latest regional outlook from the International Monetary Fund (IMF). Downgrading its growth forecasts for Europe for 2018 and 2019, the IMF said Thursday that the “the external environment has become less supportive and is expected to soften further in 2019 owing to slowing global demand, trade tensions and hig
In the eye of the storm: IMF lowers Europe’s growth outlook due to ‘external turbulence’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: holly ellyatt, philippe lopez, afp, getty images
Keywords: news, cnbc, companies, turbulence, europes, outlook, 2018, tensions, growth, external, storm, 2019, trade, global, eye, lowers, regional, imf, latest


In the eye of the storm: IMF lowers Europe's growth outlook due to 'external turbulence'

Europe’s growth prospects are at risk from a more turbulent external environment with trade tensions and tighter financial conditions at the forefront of global headwinds, according to the latest regional outlook from the International Monetary Fund (IMF).

Downgrading its growth forecasts for Europe for 2018 and 2019, the IMF said Thursday that the “the external environment has become less supportive and is expected to soften further in 2019 owing to slowing global demand, trade tensions and higher energy prices.”

“Tighter financial conditions in vulnerable emerging market economies and maturing business cycles are also weighing on activity.”

Accordingly, growth is projected to moderate from 2.8 percent in 2017 to 2.3 percent in 2018 and 1.9 percent in 2019, the IMF noted.

That said, growth is expected to remain above potential in most countries in the region driven by domestic demand, which has been supported by stronger employment and wages.

The latest forecast is a downgrade from the IMF’s last regional outlook for Europe in May, in which it predicted “growth to stay strong,” reaching 2.6 percent in 2018 and 2.2 percent in 2019.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: holly ellyatt, philippe lopez, afp, getty images
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IMF’s Christine Lagarde postpones trip to the Middle East

International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday. “The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul. Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. He is due to fly to the Turkish c


International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday. “The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul. Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. He is due to fly to the Turkish c
IMF’s Christine Lagarde postpones trip to the Middle East Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: saheli roy choudhury, joanna tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, middle, riyadh, trip, lagarde, christine, imf, ceo, khashoggi, turkish, imfs, east, told, event, consulate, postpones, officials, saudi


IMF's Christine Lagarde postpones trip to the Middle East

International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday.

Lagarde’s visit to the region included attending the Future Investment Initiative, also known as “Davos in the Desert,” in Saudi Arabia. The conference is scheduled for Oct. 23 to 25.

“The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. The IMF did not give a reason for the postponement. CNBC has reached out to the IMF for clarification.

The investing event in Riyadh has seen mounting cancellations since the disappearance and suspected killing of Washington Post columnist Jamal Khashoggi. Turkish officials allege that he was murdered by a team of Saudi operatives, but Riyadh has fiercely denied the claim.

Media outlets including CNBC, Financial Times, CNN and The New York Times have also withdrawn from the event, citing concerns about Khashoggi’s disappearance.

Several prominent business leaders have also said they will not be attending the event, including J.P. Morgan Chase CEO Jamie Dimon, BlackRock CEO Larry Fink, Blackstone CEO Stephen Schwarzman and Mastercard CEO Ajay Banga.

Last week, Lagarde told reporters at the IMF and World Bank annual meetings in Bali, Indonesia, that while she was “horrified” at the disappearance and suspected killing of Khashoggi, she was still planning to attend the conference in Riyadh.

“I have to conduct the business of IMF in all corners of the world, and with many governments,” she said at that time. “When I visit a country, I always speak my mind. You know me, I do. At this point in time, my intention is to not change my plan and to be very attentive to the information that is coming out in the next few days, but I speak my mind.”

Khashoggi, who had been living in the United States as a voluntary exile from Saudi Arabia, was a prominent critic of Crown Prince Mohammed bin Salman and the Saudi royal family. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul.

Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. The Saudi government has denied those allegations.

An official told the Associated Press on Tuesday that a police search of the consulate found evidence that Khashoggi was slain there.

U.S. Secretary of State Mike Pompeo met Saudi Arabia’s King Salman, Crown Prince Mohammed and Foreign Minister Adel al-Jubeir in Riyadh on Tuesday to discuss the matter. He is due to fly to the Turkish capital of Ankara on Wednesday to meet Turkish officials.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: saheli roy choudhury, joanna tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, middle, riyadh, trip, lagarde, christine, imf, ceo, khashoggi, turkish, imfs, east, told, event, consulate, postpones, officials, saudi


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There’s ‘no winner’ in a trade war, warns IMF deputy managing director

If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned. When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. The IMF recently cut global


If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned. When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. The IMF recently cut global
There’s ‘no winner’ in a trade war, warns IMF deputy managing director Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: saheli roy choudhury, alex wroblewski, bloomberg, getty images
Keywords: news, cnbc, companies, world, winner, theres, war, global, cost, deputy, gdp, points, imf, grow, percentage, trade, managing, director, zhang, warns


There's 'no winner' in a trade war, warns IMF deputy managing director

If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned.

When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. But when those changes happen due to unnatural distortions in the global environment, the cost of adjustment is high, he told CNBC’s Nancy Hungerford on Saturday, during the IMF and World Bank annual meetings in Bali, Indonesia.

It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. “This gives you (an) illustration of how serious the result will be, but, in reality, we will see probably even more complicated implications, not only on trade, investment, but also on confidence and people’s psychological reactions.”

The IMF recently cut global growth forecasts: It predicted that the world economy would grow at 3.7 percent this year and next year — down 0.2 percentage points from an earlier forecast. The fund also cut its predictions for global trade volumes: The total goods and services flow is expected to grow by 4.2 percent this year and 4 percent next year — down 0.6 and 0.5 percentage points, respectively, from earlier estimates.

According to Zhang, there are no beneficiaries in a trade war. Even if a country appears to have come out on top, it would potentially do so at the expense of production capacities and a reduction in final demand.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: saheli roy choudhury, alex wroblewski, bloomberg, getty images
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There is ‘no winner’ in the tariff ‘game’: IMF

There is ‘no winner’ in the tariff ‘game’: IMF21 Hours AgoTao Zhang of the International Monetary Fund says it is “in nobody’s interest” for countries to escalate trade tensions instead of engaging in dialogue to resolve the dispute.


There is ‘no winner’ in the tariff ‘game’: IMF21 Hours AgoTao Zhang of the International Monetary Fund says it is “in nobody’s interest” for countries to escalate trade tensions instead of engaging in dialogue to resolve the dispute.
There is ‘no winner’ in the tariff ‘game’: IMF Cached Page below :
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There is 'no winner' in the tariff 'game': IMF

There is ‘no winner’ in the tariff ‘game’: IMF

21 Hours Ago

Tao Zhang of the International Monetary Fund says it is “in nobody’s interest” for countries to escalate trade tensions instead of engaging in dialogue to resolve the dispute.


Company: cnbc, Activity: cnbc, Date: 2018-10-14
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