Business
IMF Foresees Weaker Global Economic Growth

Executive Director, Centre for Citizens with Disabilities, Mr David Anyaele (left), presenting a research report on Access to Justice and Persons wth Disabilities to Representative of the Chief Judge, Ikeja High Court, Mrs Funmi Ajayi (right), in Lagos recently. With them is the Deputy Registrar, Mrs Judith Momodu.
Global economic growth
is likely to be weaker than earlier expected, the head of the International Monetary Fund IMF) said yesterday.
IMF Managing Director Christine Lagarde told university students at the start of a two-day visit to Jakarta that low growth was due to slower recovery in advanced economies and a further slowdown in emerging nations.
Lagarde also warned emerging economies like Indonesia to “be vigilant for spill-overs” from China’s slowdown, tighter global financial conditions and the prospects of a U.S. interest rate hike.
“Overall, we expect global growth to remain moderate and likely weaker than we anticipated last July,” Lagarde told the students.
The IMF in July forecast global growth at 3.3 per cent this year, slightly below last year’s 3.4 per cent.
Lagarde said China’s economy was slowing, although not sharply or unexpectedly as it adjusts to a new growth model.
“The transition to a more market-based economy and the unwinding of risks built up in recent years is complex and could well be somewhat bumpy.
“That said, the authorities have the policy tools and financial buffers to manage this transition.”
Lagarde, who is visiting Indonesia for the first time in three years, said Southeast Asia’s largest economy had the “right tools to actually react” to the global volatility.
“You have very sound public finances with overall government debt in the range of twenty-ish per cent relative to GDP, you have a relatively small deficit,” she said before meeting with Indonesian President Joko Widodo.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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