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IMF: Global Economy Faces “Synchronized” Drop
The world’s economy is in a “synchronized slowdown,” says Kristalina Georgieva, new head of the International Monetary Fund.
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The world’s economy is in a “synchronized slowdown,” says Kristalina Georgieva, new head of the International Monetary Fund.
She notes that two years ago expansion was accelerating for 75% of the global economy. Now the pace is slowing for 90% of the world economy. As a result, IMF predicts overall expansion this year will be the weakest in a decade.
Trade tensions are a major contributor. IMF estimates that the global loss caused by current trade sanctions could reach $700 billion by 2020, or nearly 1% of the world’s gross domestic product.
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