IMF cuts 2014 global growth forecast, sees rising risks

Chief economist at the International Monetary Fund, Olivier Blanchard, listens to questions during a press conference in Mexico city, on July 24, 2014The International Monetary Fund warned Thursday that geopolitical risks in Ukraine and the Middle East are looming over a global economy already hit by slowdowns in the US and China. After “negative surprises” from the United States and China, the global economy is now expected to grow only 3.4 percent this year, the IMF said, lowering its April estimate of 3.7 percent. In 2013, the world economy grew 3.2 percent. The downgraded 2014 growth outlook reflects a “weak first quarter, particularly in the United States, and a less optimistic outlook for several emerging markets,” the IMF said in an update of its semiannual World Economic Outlook (WEO).

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