IMF Lowers Global Growth Forecast, Warns of Increasing Risks

The International Monetary Fund has revised its global GDP prediction for the upcoming year downward and cautioned about escalating dangers ranging from conflicts to trade protectionism, while acknowledging central banks for controlling inflation without precipitating recessions in various states.

The fund has been warning for several years that the global economy is expected to grow at its current lackluster rate in the medium term—insufficient to provide governments with the resources necessary to alleviate poverty and address climate change.

The prognosis does not expressly reference the US election; but, the impending fight in two weeks casts a shadow over the annual meetings where finance ministers and central bankers from almost 200 nations will convene at the IMF and World Bank headquarters in Washington, located within three blocks from the White House. The fund is imploring governments to implement stringent measures to stabilize borrowing.