International Monetary Fund cuts growth outlook for Canada in 2019

The seal of the International Monetary Fund is seen outside of the headquarters building in Washington

The 198 report put together by the research department of the IMF looks at the global economy, opportunities, threats as well as reviewing the economics 189 members of the Fund.It is based on historical data and projection based on information picked up by IMF country desk offices in the contest of their mission to the member countries.

"With improvements expected in the second half of 2019, global economic growth in 2020 is projected to return to 3.6 percent".

"Although a 3.3 per cent global expansion is still reasonable, the outlook for many countries is very challenging, with considerable uncertainties in the short term, especially as advanced economy growth rates converge toward their modest long-term potential", the report read.

In its April 2019 World Economic Outlook (WEO) report released Tuesday evening Manila time, the Washington-based International Monetary Fund cut its growth projection for this year from 6.6 percent previously, even as it projected growth next year at a slightly faster 6.6 percent.

Cuts 2020 China forecast to 6.1% from 6.3%.

The IMF published the latest edition of its World Economic Outlook on Tuesday. Growth in systemic economies such as the euro area and China may surprise on the downside, and the risks surrounding Brexit remain heightened.

It blamed the slowdown on the trade spat and tariff hikes between the USA and China, besides "a decline in business confidence, a tightening of financial conditions, and higher policy uncertainty across many economies".

And while the recent signs that officials in Washington and Beijing are engineering a trade deal have calmed some of the nerves in financial markets, the solution is by no means certain.

Next New levy on the most polluting vehicles entering British capital
Officials said nitrogen oxide levels were reduced by about 20 percent in advance of the zone taking effect. Details were announced in late February.

Dalai Lama admitted to Delhi hospital due to chest infection
But last month, the Dalai Lama reiterated that any leader named by China would not be accepted by Tibetans. Over recent years, there have been growing concerns regarding who would succeed an ageing Dalai Lama.

White House blasts judge who ruled against US asylum policy
But Seeborg said that provision doesn't apply to asylum seekers, who are covered under a different section of the law. He has reportedly directed top White House officials to take a more aggressive stance on immigration.

The outlook for Germany, one of the main drivers of European growth, suffered from weaker demand for its exports, softer consumer spending and new emissions standards that have depressed auto sales. This recovery is precarious and predicated on a rebound in emerging market and developing economies, where growth is projected to increase from 4.4 percent in 2019 to 4.8 percent in 2020.

"Iran; and civil tensions and conflict across several other economies, including Iraq, Syria, and Yemen, where recovery from the collapse associated with the war is now expected to be slower than previously anticipated", the report stated.

The challenge to policymakers is they have little ammunition with which to counteract a slowdown since interest rates are low and most central banks already have stopped raising or started cutting rates, while debt levels are high, crimping the ability to provide fiscal stimulus.

The fund has also warned of "more subdued" momentum next year. There was also weakened spending on consumer durables and automobiles, export orders fell as a result of the US-China trade actions, and growth fell to 6.0% in the second half of 2018, from 6.8% in the first half. But inflation pressures remained muted despite the new duties, which raised the costs of hundreds of billions of dollars' worth of imports. "Growth in advanced economies will slow slightly in 2020, despite a partial recovery in the euro area, as the impact of USA fiscal stimulus fades and growth tends toward the modest potential for the group, given aging trends and low productivity growth".

RBI effected two back-to-back rate cuts by 25bps each to boost growth.

The IMF cut its 2019 growth forecasts for Canada and Latin America as well as for the Middle East and North African countries.

"The downward revision in the growth of 0.2 percentage points for 2019 from the January projection is also broad-based".


  • Huawei reportedly happy to sell Apple its 5G modems

    Huawei reportedly happy to sell Apple its 5G modems

    For a start, Huawei has stated that its Balong chipsets are primarily created to support the brand's smartphones and IoT products. Historically, Huawei has denied selling components to rivals, with some commentators questioning a potential strategic shift.
    Chris Hemsworth would love to play Thor even after Avengers: Endgame

    Chris Hemsworth would love to play Thor even after Avengers: Endgame

    He added, "Everyone should be given the right to have the freedom to make whatever creative choices they want to make". Marvel Studios' AVENGERS: ENDGAME opens in US theaters on April 26.
    Magic Johnson Steps Down as Lakers President

    Magic Johnson Steps Down as Lakers President

    It was a slight improvement from last season when the team finished the year on a 35-47 record. Smith said that he has no idea and can not believe why Johnson quit as Lakers president.
  • Redacted Mueller report set for release 'within a week'

    Redacted Mueller report set for release 'within a week'

    Barr revealed the expected release of the watchdog report in testimony to lawmakers during a House budget hearing on April 9. Redacted official documents or reports typically have sections blacked out to protect sensitive information.
    Donald Trump faces legal battle with Warner Bros over copyright infringement

    Donald Trump faces legal battle with Warner Bros over copyright infringement

    US President Donald Trump on Tuesday posted a video on Twitter that appeared to be a part of his 2020 pre-election campaign. The video showed the images of Democrats Barack Obama and Hillary Clinton , juxtaposed with clips of the president.
    Devils draw top pick in NHL draft lottery

    Devils draw top pick in NHL draft lottery

    The Sabres last picked seventh in 1996, when they grabbed center Erik Rasmussen out of the University of Minnesota. The Colorado Avalanche , who held Ottawa's pick, had the best odds of winning the lottery but they slid to fourth.
  • Sudan opposition renews calls for anti-Bashir protests

    Sudan opposition renews calls for anti-Bashir protests

    Previous attempts by security forces have failed to disperse the protesters, who have vowed to stay until Bashir steps down. The rallies are being led by the Sudanese Professionals Association, an umbrella group of independent professional unions.
    United Kingdom  set to lose European commissioner role over Brexit delay

    United Kingdom set to lose European commissioner role over Brexit delay

    This is when the United Kingdom is scheduled to leave the European Union after MPs repeatedly rejected the Prime Minister's deal. The presenter took him to task on whether Mrs May would accept an even longer delay to Brexit.
    Allegri: Cristiano Ronaldo will start against Ajax

    Allegri: Cristiano Ronaldo will start against Ajax

    The 34-year-old striker is set to be available when Juventus takes on Dutch giants Ajax in Amsterdam on Wednesday evening. Manager Erik ten Hag says his side are happy to be the "surprise" package in this season's Champions League quarter-final.
  • Scientists to unveil landmark images of black holes

    Scientists to unveil landmark images of black holes

    Black holes , which come in different sizes, are formed when very massive stars collapse at the end of their life cycle. He said that imaging the Milky Way's black hole is just as hard as spotting an orange on the surface of the moon.
    Lakers owner Jeanie Buss reacts to Magic Johnson’s decision to step down

    Lakers owner Jeanie Buss reacts to Magic Johnson’s decision to step down

    I don't know where they go from here. "I had to weigh both situations and this is better for me". "He didn't want it anymore". Johnson's desire for his old life wasn't the only reason for his departure. "I didn't like that", he said.
    Mnuchin says he’ll ‘follow the law’ on Trump tax returns

    Mnuchin says he’ll ‘follow the law’ on Trump tax returns

    Democrats have demanded Trump release his tax returns for years, starting when he was a presidential candidate in 2015. He routinely says - as he did Friday - that he's under routine audit and therefore won't release his returns.


Latest news

Gas prices on the rise; California sees largest jumps
DeHaan encouraged motorists to take some time and shop around for the lowest gas prices in their area. On average, US gas stations are the least busy on Sundays, followed by Mondays.

Beyoncé is blessing us with a documentary
The Grammy-award-winning singer made history at Coachella a year ago as the first woman of color to headline the annual festival. Homecoming will premiere on Netflix on Wednesday, April 17th, in between Coachella 2019 's first and second weekends.

Dirk Nowitzki Holds Back Tears While Giving Emotional Retirement Speech In Dallas
He will go down as one of the greatest to ever play the game and one of the most entertaining players to ever watch. Mavericks star Dirk Nowitzki announced on Tuesday night that he plans to retire after the 2018-19 season.

U.S. seriously considers use of military force against Venezuela - administration
Venezuela's oil economy has crumbled under the collapse of crude exports and global sanctions against Mr Maduro. A regional expert said, "Cuba's foreign ministry is raging about U.S. sanctions on the Maduro regime...

4 bees found feeding on woman's tears inside her eyelid in Taiwan
There are now 1,000 species in the United States, Canada, and Central America, with 44 known species found in Florida. Doctors treating a Taiwanese woman for a swollen eye were shocked to find four tiny bees living under her left eyelid.

Death sentence for tourists taking selfies at beach near airport -Thai govt
According to reports, the Thai government is now constructing a safety zone near the runway along the beach to avoid public access to the area.

The Addams Family Trailer: Oscar Isaac, Charlize Theron Star In Reboot
Furthermore, Wednesday takes part in an It joke with a cheerful red balloon and Pugsley blows Uncle Fester's bathtub up. From the official synopsis: "Get ready to snap your fingers!" The Addams Family is set to return to the big screen.

BCCI reveals the date for Team India’s selection
Captain Virat Kohli had said that execution in IPL 2019 would not be a factor in picking the squad. The tournament will be played in England and Wales and commence from 30 May.

Samsung officially confirms the Galaxy J series are done
Samsung is holding a major event tomorrow in Milan where the Korean firm will lift the lid on its all-new Galaxy A70 smartphone. The Galaxy A30 has been priced at Rs 16,990 has been priced at 4GB of RAM with an internal storage of 64GB variant.

Garbine Muguruza retains Monterrey title as injured Victoria Azarenka retires
This was the only round that she had lost a set and her fight for the victory was real and gritty winning 6-4, 4-6, 6-1. The Slovakian kept a first-service win rate of 79%, winning all 10 of her service games.

Debenhams UK taken over by its lenders
The administration comes after a battle between Mr Ashley and the Debenhams board over the future of the 240-year-old company. This morning, the company turned down a £200million offer by Sports Direct's Mike Ashley , on the condition he became CEO.

Maple Leafs vs. Canadiens Prediction: NHL Betting Odds
The Maple Leafs have made the most notable additions on paper since last season, adding John Tavares and Jake Muzzin into the mix. The Boston Bruins are evidently the bigger and more physical of the two teams, and they must take advantage of that.

BJP MLA, 4 policemen die in naxal attack
Bastar is considered the Bharatiya Janata Party's bastion as the party has been winning the seat since 1999 with massive margins. My tributes to the security personnel who were martyred. "Strongly condemn the Maoist attack in Chhattisgarh ".

NYC orders mandatory vaccines for some amid measles outbreak
In March. a county in NY state declared a state of emergency following a measles outbreak . "This is a public health emergency". We have the tools available now because of this emergency order to fine - and fine very substantially.

USA blacklisting of Iran's Revolutionary Guard 'vicious move'
Within hours of the Trump administration's declaration, Iran's Supreme National Security Council responded by designating the U.S. Central Command , also known as CENTCOM, and all its forces as terrorist, and labeling the U.S. a "supporter of terrorism".

Other news