Trade tension can further destabilize world economy

DAVOS, Jan 22 (INP) The International Monetary Fund (IMF) has said that failure to resolve trade tensions could further destabilize a slowing global economy. The IMP cut its world economic growth forecasts for 2019 and 2020 due to weakness in Europe and some emerging markets.

The IMF predicted the global economy to grow at 3.5 per cent in 2019 and 3.6pc in 2020, down 0.2 and 0.1 percentage point respectively from last October’s forecasts.

IMF Managing Director Christine Lagarde told a briefing “After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising,”.