Pakistan Seeks Largest Loan Package From IMF

Pakistan to seek IMF bailout to overcome financial crisis

It said the dispute between the US and China would especially leave developing economies vulnerable to sudden stresses.

The IMF's latest report on world financial stability, released Wednesday, said global growth could be at risk if emerging markets deteriorate further or trade tensions escalate.

The global finance agency dropped its projection for world economic growth by two-tenths of a percentage point for both 2018 and 2019 to 3.7 percent, the first time it had trimmed its economic outlook in more than two years.

With much of the U.S.

The IMF said a new data base in its semi-annual Fiscal Monitor report showed considerable net worth in 31 countries that account for 61 per cent of global economic output.

But higher United States interest rates have also helped send emerging market currencies into a tailspin, as countries that borrowed heavily in dollars race to pay back debt.

The body now expects the US economy to grow at a rate of 2.5 percent in 2019, a 0.2 percentage point decline from its April estimates.

China's growth is still expected to be more than 6% next year, but the IMF's chief economist Maurice Obstfeld warned Beijing to concentrate on quality and sustainability of growth, not quantity of growth.

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As interest rates rise in advanced economies, prompting investors to take their money in search of higher returns, the IMF said emerging economies should take steps to insulate themselves from an exodus of funds.

Pakistan Finance Minister Asad Umar, who is attending the Fund's annual meeting in Bali, announced earlier this week that the government would seek talks with the IMF on a "stabilization recovery program". This would be in keeping with a fall in global GDP growth, which the International Monetary Fund has predicted to fall from 2& to 1.8% in 2019.

"We are all deeply concerned about this news and the potential impact on the business".

"Six months ago, we saw a very balanced expansion, said Obstfeld". -China trade war, coupled with threatened global US automotive tariffs and retaliation from trading partners.

The ongoing trade war between the US and China could start having material effects on the economies of both countries within the coming years, according to new projections from the International Monetary Fund (IMF).

The rupee has fallen by more than 20 percent in four devaluations since December.

That initiative includes China, India and Japan, but not the United States. The report showed household debt to GDP in China has more than doubled over the past decade to just under 50%, while that of other emerging market economies has remained relatively stable at just under 20%. It also assumes that Trump imposes a 25 percent tariff on imported cars and auto parts.

Adjustments would occur as domestic production displaces higher-priced imports, the model shows, but in the long run, the U.S. GDP would still be 1.0 percent below a baseline without these tariffs, while China's GDP output would be one half percent below the baseline.

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