Trade tensions are weighing on growth across the world, but the International Monetary Fund is "far" from forecasting a global recession, an IMF official told Reuters on September 13, as the fund prepares to release a new economic outlook next month.
The IMF on
September 12 said tariffs imposed or threatened by the United States and China could shave 0.8% off global
economic output in 2020 and trigger losses in future years.
tensions are weighing on growth. But we really don't see recession in the
current baseline. I think we're far from that," said the IMF official, who
is familiar with the preparation of the outlook.
manufacturing activity has been weak, we also see resilience in the services
sector and consumer confidence is holding up. The question is how long that
resilience can last, and we are monitoring carefully all indicators," said
the official, who was not authorized to speak publicly.
The fund issues an economic outlook twice a year
to coincide with its spring and fall meetings, forecasting global gross
domestic product for the current year and the following year.
Bangladesh has lifted about 8 million people out of poverty over the past seven years, showed a World Bank report released in Dhaka on october 7.
Candidate for the early presidential election Kais Saied announced that he will not campaign for the second round of the presidential election for "ethical reasons," in a statement issued on October 5.
The latest working-level talks held in Stockholm on Saturday (October 5) between the Democratic People's Republic of Korea (DPRK) and the United States broke down with no agreement.
Philippine President Rodrigo Duterte and his Russian counterpart Vladimir Putin have agreed to enhance cooperation between the two countries.
The Libyan Navy on Wednesday (October 2) said it has rescued 7,036 illegal immigrants this year so far, compared with 12,365 illegal immigrants rescued from January 1 to September 30 last year.
Irish Prime Minister Leo Varadkar said on Wednesday (October 2) that the latest Brexit proposals from the British government do not fully meet the agreed objectives of the backstop.