"The first half of 2016 revealed some promising signs ' for example, stronger than expected growth in the euro area and Japan, as well as a partial recovery in commodity prices that helped several emerging and developing economies."As of June 22, we were therefore prepared to upgrade our 2016-17 global growth projections slightly.Parliament recently passed the Bank of Ghana Amendment Bill which was critical to the IMF conditions in granting the central bank power, as well as eliminate government’s budget financing by the Bo G to zero percent. The release, which was copied to Citi Business News stated that the team visited Accra from August 29 to September 2, 2016 to continue discussions on the third review of Ghana’s financial and economic program supported by the IMF’s Extended Credit Facility (ECF) It stated that the team had constructive discussions with the authorities during the week on a few outstanding issues. President John Dramani Mahama; Finance Minister Seth Terkper; Bank of Ghana Governor Dr.
The IMF today slightly trimmed India's growth projections to 7.4 percent for 20, a drop of 0.1 percent from its previous forecast, attributing it to a more sluggish investment recovery while declaring Brexit as a "spanner" in the global economic recovery.
The global lending agency also said that Brexit has resulted in global economic uncertainty.
In a report updating its economic forecast for 2017, the International Monetary Fund (IMF) warned that it has “lowered its expectations” Argentina’s short-term recovery from the global recession.
The report, called World Economic Outlook, points out that economic “activity was weaker than expected in some Latin American countries currently in recession, such as Argentina and Brazil.” “In Latin America, the growth downgrade reflects to an important extent more muted expectations of short-term recovery in Argentina and Brazil following weaker-than-expected growth outturns in the second half of 2016, tighter financial conditions and increased headwinds from U.
But Brexit has thrown a spanner in the works," Obstfeld said.
The April outlook was for 3.2 percent global output growth in 2016 and 3.5 percent in 2017.
In October of last year, the previous outlook highlighted the “measures taken to correct macroeconomic imbalances and micro economic distortions,” despite the “mild recession in 2016” and had estimated the country’s GDP would grow by 2.7 percent this year.
The newest report didn’t publish updated figures, but considering its analysis, it’s almost certain that the rate of growth will be smaller.
The IMF slightly trimmed India's growth projections to 7.4% for 20 on Tuesday, a drop of 0.1% from its previous forecast, attributing it to a more sluggish investment recovery while declaring Brexit as a "spanner" in the global economic recovery.
As a result, the global outlook for 2016-17 has worsened, despite the better-than- expected performance in early 2016," the IMF said in its latest update of the World Economic Outlook.
Indicators of real activity were somewhat stronger than expected in China, reflecting policy stimulus, as well as in Brazil and Russia, with some tentative signs of moderation in Brazil s deep downturn and stabilisation in Russia following the rebound in oil prices, is said.