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
NCDMB Signs Mgt Deal With Radisson, Edison…As Board’s 204 Rooms Hotel Open December 2026
Business
FG engages foreign investors at PEBEC Roundtable on business environment reforms
Business
MAN warns against illegal recycling of File photo
-
Business2 days agoNERC Amends Order on Meter Tampering, Power Bypass For Discos
-
Rivers2 days agoKENPOLY Rector Promises To Prioritise Students’ Welfare
-
Business2 days agoNigeria, AFC sign $1.3 billion deal to build alumina refinery
-
Business2 days agoNCDMB Signs Mgt Deal With Radisson, Edison…As Board’s 204 Rooms Hotel Open December 2026
-
News3 days agoPolice Arrest Nigerian, Two Others For Kidnapping In Edo
-
Rivers2 days agoDon, Stakeholders Urge Environmental Laws In N’Delta
-
Rivers2 days agoADIAFRICA Flags-off Free Eye Screening Outreach In PH
-
Environment2 days agoIWD: NGO promotes clean energy access for women in Kaduna
