International Monetary Fund ups 2018 growth forecast for Turkey, revises down 2019 figure

Follow TheCable for live updates from the 2018 IMF/WBG Spring meetings

His warning came as the IMF's World Economic Outlook predicted the growth in 2018 and 2019 would be the strongest and broadest-based since 2010, when there was an initial sharp bounce back from the global recession of 2008-09.

Observing that the world growth strengthened in 2017 to 3.8 percent, with a notable rebound in global trade, International Monetary Fund said it was driven by an investment recovery in advanced economies, continued strong growth in emerging Asia, a notable upswing in emerging Europe, and signs of recovery in several commodity exporters.

Overall, the Irish economy expanded by about 7.8 per cent in 2017, which means that iPhone sales would have accounted for a quarter of that, or about 2 per cent of overall growth.

International Monetary Fund chief economist Maurice Obstfeld said global debt levels are very high, threatening repayment problems as central banks prepare to raise interest rates back to normal levels, at a time when many economies face lower medium-term growth rates.

The IMF raised its 2018 forecast of gross domestic product to 1.5% for 2018 and 1.7 for 2019, compared to previous forecasts of 0.9% and 1.6% respectively.

There are warnings about the risks ahead, lurking dangers that could lead to the global economy falling short of the IMF's forecasts, in addition to the concerns about trade.

The Asian Development Bank and the World Bank have projected the Indian economy to grow at 7.3% in 2018-19.

Benjamin Garre: Manchester City cleared by Cas over signing of Argentine teenager
CAS has not released its formal decision, but is expected to find the case in City's favour. Benjamin Garre (standing) in action for Man City academy team .

Storms unleash tornadoes in USA east, record snow in Midwest
But the confirmation of whether it was an actual tornado will come Monday when teams are able to look at the damage on the ground. Montgomery said around 950 crew members will be in Guilford County by Tuesday to continue power restoration efforts.

Facebook to face class action lawsuit over facial recognition
The lawsuit has three plaintiffs, but a class-action status could potentially include millions of IL users. This law protects people over information such as fingerprints, retina scans, and facial recognition .

"The growth rate in China is projected to soften down during this period", it said, adding that over the medium term, its economy is projected to continue re-balancing away from investment toward private consumption and from industry to services, but nonfinancial debt is expected to continue rising as a share of GDP, and the accumulation of vulnerabilities clouds the medium-term outlook.

Obstfeld said there was more of a "phoney war" between the United States and China than a return to the widespread use of tariffs in the Great Depression, but that there were signs that even the threat of protectionism was already harming growth.

It forecasts the Irish economy to grow at 4.5% this year and 4% next year.

"That major economies are flirting with trade war at a time of widespread economic expansion may seem paradoxical - especially when the expansion is so reliant on investment and trade", Obstfeld added.

The IMF official said that these trends are more due to technology change than to trade, and even in countries where trade backlash is not prominent, public skepticism about policymakers' ability to generate robust and inclusive growth has spread.

Governments should take advantage of the good times to make structural reforms and put in place tax policies that raise the potential output of their economies, Obstfeld said. "Fights over trade distract from this vital agenda, rather than advancing it", Obstfeld said.

Related News:



Most liked

MediShares (MDS) declined to $0.0924 for a day
Investors can then use their newly-acquired Bitcoin or Ethereum to buy Coin (O) using one of the aforementioned exchanges. According to CryptoCompare, "The SpankChain will use the Ethereum blockchain to create an adult entertainment ecosystem.

Paddy Jackson's Test career over: Ulster rugby chief
Clermont have poured cold water on suggestions that they're interested in signing Paddy Jackson . Both Olding and Jackson have expressed regret that their future no longer lies with Ulster.

This Republican billionaire using his tax breaks to fund Democrats
56 percent of women are planning to vote in the midterms with 55 percent of registered women voters favoring Democrat candidates. In the five House seats now held by a Republican, 46 percent of voters prefer the GOP candidate and 44 percent the Democrat.

In the Network appeared new details about the Xiaomi Mi 7
A Snapdragon 625 SoC will be powering the device, which is the same chipset used in the Redmi Note 5 and Redmi Note 4 in the past. We're saying so because the XDA developers have now managed to get hold of the stable build of Android Oreo based MIUI firmware.

Transcript of James Comey's first interview since President Trump fired him
Lindsey Graham (R-S.C.) said Comey drafted a statement that exonerated Clinton before the FBI had completed the investigation . Comey writes that his experiences with Trump gave him "flashbacks to my earlier career as a prosecutor against the mob".

Castlevania: Grimoire Of Souls For iOS Revealed By Konami
This is Castlevania's first major mobile release since 2010's Castlevania Puzzle: Encore of the Night. Genya Arikado: A mysterious character who belongs to a top-secret Japanese government agency.

Last-Minute Tax Day Filing: How to Pay Uncle Sam at the Deadline
Tax Day is on Tuesday whether you owe money or you're getting a refund, some companies are offering some great deals for Tax Day. The extension gives you an extra 6 months to get your returns in, but it doesn't mean you have more time to pay.

Drake Announced "Scorpion" Album & Social Media Madness Ensued
On Monday (April 16), the rap star hopped on Instagram to make the big announcement by way of photo. This means he's broken the record for having the shortest time between nabbing a number one single.

1000-Year-Old King Bluetooth's Treasure Discovered By 13-Year-Old Boy
On the East German island of rügen in the Baltic sea were found hundreds of silver coins, rings, pearls and bracelets. However they were sworn to secrecy until the experts could move in and unearth the entire treasure.

Pentagon says strikes on Syria hit every target
Syria called the devastating strike a "violation of global law" while Mr Putin denounced the act "with the utmost firmness". Syria condemned the attack as a "flagrant violation of the global law", according to Syria's official SANA news agency.

Activist Explains What West Achieves by Striking Syria
Igor Kirillov, a Russian chemical weapons protection expert in The Hague, said the team is set to visit the site on Wednesday. The US expressed concerns that Russian Federation may have tampered with evidence at the site.

European Union calls on Russia, Iran to prevent Syria from chemical weapons use
USA and British officials warned that infected routers could be used to launch future offensive cyber operations. The Kremlin did not immediately respond to a request for comment late on Monday.

Two Koreas to discuss announcing official end to war, report says
President Donald Trump - the first between a sitting American president and a North Korean leader. A successful summit between Moon and Kim could pave the way for a meeting between Kim and U.S.

Facebook admits it does track non-users, for their own good
Or if a browser has visited hundreds of sites in the last five minutes, that's a sign the device might be a bot". Evidence suggested that Russians had purchased Facebook ads that were directed at US voters.

Gwyneth Paltrow thanks friends for celebrating her love
It was also speculated that the party was meant to be the couple's wedding, but it appeared to be about their engagement. Gwyneth Paltrow feels like the "luckiest" person after celebrating her engagement over the weekend.