The IMF lowers global growth forecast for 2015 – FORTUNE

The IMF lowers global growth forecast for 2015 – FORTUNE

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Monday, January 19, 2015 at 22:14

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‘+’ States States noted in an opaque report cutouts for major world economies; The agency also reduced its growth expectations for Latin America. ‘+’

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In the Eurozone only Spain had an increase in its estimate of growth. (Photo: iStock)

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WASHINGTON (Reuters) – The International Monetary Fund (IMF) lowered its global economic growth forecast for 2015 and asked Tuesday to national governments and central banks to continue their monetary stimulus and structural reforms to support the expansion.

Global growth is projected at 3.5% in 2015 and 3.7% in 2016, the IMF said in its latest Global Economic Prospects report, cutting 0.3 percentage points estimates regarding both years pre.

“The new factors that support the growth of lower-prices oil, but also the depreciation of the euro and the yen are more than offset by persistent negative forces, including long legacies of the crisis and the less potential for growth in many countries, “said Olivier Blanchard, IMF chief economist, said in a statement released in Washington agency.

The IMF advised the advanced economies to maintain the monetary stimulus to avoid increases in real interest rates, at a time when the cheapest oil prices make growing risk of deflation.

If the rates can not be reduced further, the IMF recommended trying a policy of encouraging “by other means”.

United States was the only bright spot in an opaque report for the major economies, with a projected 2015 growth rose to 3.6% from 3.1%.

United States largely offset the prospects of further weakness in the euro, where only the growth of Spain was revised up area.

The projections for emerging economies were also trimmed mostly worsened and most were those of oil exporters like Russia, Nigeria and Saudi Arabia.

The IMF expects a slowdown in China will have a limited response of the authorities in Beijing, who are more concerned about the risks of rapid credit growth.

The IMF cut its growth forecast for Latin America this year by almost a percentage point to 1.3% and lowered next year by half a percentage point to 2.3%.

According to their forecasts, Brazil will grow just 0.3% in 2015 and 1.5% in 2016, while expanding in Mexico would be 3.2% this year and 3.5% next.

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