International Monetary Fund predicts 7.3% growth rate for India in current fiscal year

Pakistan to start talks with IMF as rupee continues to fall

The International Monetary Fund (IMF) has forecast Switzerland's economy will grow by 3% by the end of 2018.

They show that a burst of strong growth, fueled partly by USA tax cuts and rising demand for imports, was starting to wane.

The ongoing trade war between the USA and China could start having material effects on the economies of both countries within the coming years, according to new projections from the International Monetary Fund (IMF).

The downgrade reflects a confluence of factors, including the introduction of import tariffs between the U.S. and China, weaker performances by euro zone countries, Japan and Britain.

But Lagarde added that uncoordinated developed-country rate hikes were contributing to destabilising capital outflows from emerging markets.

Maurice Obstfeld, IMF's chief economist and director of research said whatever affects the three major economies will affect the whole region as majority of the countries relies on their trajectories.

IMF's forecast for Singapore's economic outlook remains steady at 2.9% for 2018, but has been revised downward by 0.2 percentage points to 2.5% for the following year. In 2017, India had clocked a 6.7 per cent growth rate.

The May federal budget forecast 3 per cent GDP in 2018-19 and the same the following financial year.

The IMF expects the United States economy to continue growing this year at 2.9%, but sees that rate falling to 2.5% next year amid the country's escalating trade war with China.

McConnell now open to Supreme Court nomination in presidential election year
He said Saturday he thinks Republicans "are going to do incredibly well" in the midterm elections after Kavanaugh's confirmation. Kavanaugh was officially sworn in Saturday night following the 50-48 vote in which he was confirmed by the Senate.

Google is shutting down Google Plus for consumers
As for Google +, the search giant won't miss it that much because the site never got off the ground with end users. As part of that, a bug in Google + was found that could have been a potential leak if it wasn't caught in time.

Liverpool's Jurgen Klopp: Nations League a 'senseless' competition
We were back on track even after we had to change Milly [ James Milner ] which you never want to do, especially in the first half. What few chances there were fell largely City's way. "Both teams did well".

Mnuchin was quoted by the Financial Times on Wednesday as saying that the Treasury monitored currency issues "very carefully" and that the Chinese yuan, also known as renminbi, had fallen "significantly" during the year.

Despite some cause for positivity however, the International Monetary Fund has also suggested Switzerland's economy may slow down next year.

The IMF said higher trade barriers could disrupt global supply chains, slow the spread of technology and ultimately lower global productivity and welfare.

Trump has led the escalating trade war because of what he believes are bad policies he said have created an $800 billion US trade deficit.

"We continue to closely monitor developments in the yuan; we remain concerned about the recent depreciation of the yuan", said the official, who spoke on condition of anonymity.

The Treasury's currency report will be released just a few weeks after the USA currency manipulation guidelines were included in the new United States-Mexico-Canada Agreement. "But we need to do it (go to IMF) before our reforms start yielding results in about six months", Khan said.

But additional tariffs and countermeasures "could lead to a broader tightening of financial conditions, with negative implications for the global economy and financial stability", the fund warned. It predicted China's GDP growth at 6.6% in 2018-'19 and downgraded it to 6.2% for 2019-'20.

It also assumes that Trump imposes a 25% tariff on imported cars and auto parts imports.

Related news:

Hot News

isis-killer-beheading-video-story-top Brees breaks NFL's all-time passing yards record
Oct 10, 2018 - 01:17
Paired with an offensive mastermind in head coach Sean Payton, Brees produced an NFL-record five 5,000-yard passing seasons. The late QB draw TD from Alex Smith is keeping them in the game, but the overall performance was still not too inspiring.

isis-killer-beheading-video-story-top United Nations panel urges fast action to avoid climate catastrophe
Oct 10, 2018 - 01:03
The agency removed its section on climate change from its website a year ago for an "update" that has yet to materialize. By 2030, global carbon dioxide emissions must be 45% less than they were in 2010, the report found.

isis-killer-beheading-video-story-top Melania Trump calls Kavanaugh ‘highly qualified’
Oct 10, 2018 - 00:55
In an interview with the Washington Post , Trump said Murkowski will face political consequences for opposing Kavanaugh. Murkowski, on the other hand, announced earlier Friday that she did not intend to vote for Kavanaugh's confirmation.

isis-killer-beheading-video-story-top Goa urges Alan Jones to use real billboards in stunt across Queensland
Oct 10, 2018 - 00:53
Racing NSW officials made the decision to conduct the draw prior to the event to circumvent any security risks that may exist. Comedy crew The Chaser have out-Jonesed Alan Jones by projecting his phone number onto the sails of the Sydney Opera House.

isis-killer-beheading-video-story-top Steven Gerrard admits every Rangers player is for sale
Oct 10, 2018 - 00:49
Hearts are where they are on merit. "But a lot of players deserve a break and we need to get a lot of players back up to speed". But Emery, perhaps mindful that tougher challenges lie ahead, was wary about Arsenal being labelled title contenders.

isis-killer-beheading-video-story-top Intel's 9th-Generation Core Processors Unveiled
Oct 10, 2018 - 00:47
Also new: These chips are the first to include hardware fixes for some variants of the Meltdown and Spectre flaws. It's supported by the Intel C621 chipset, and can support six-channel DDR4 (maximum capacity 512GB at 2,666MHz).

isis-killer-beheading-video-story-top Will Hurricane Florence Hit Massachusetts? What To Expect
Oct 10, 2018 - 00:31
The couple have boarded up their uncle's condominium and are leaving soon as Hurricane Florence approaches. "It's going to happen. Heavy rains were forecast to extend into the Appalachians, affecting parts of Alabama, Tennessee, Kentucky and West Virginia.

isis-killer-beheading-video-story-top Newlyweds, sisters and close friends were killed in New York limo crash
Oct 10, 2018 - 00:29
Two vehicles were involved in the crash, which occurred just before 2pm at the intersection of State Route 30 and State Route 30A. It crashed into an unoccupied parked auto and hit two pedestrians before coming to a rest in a shallow ravine, officials said.

isis-killer-beheading-video-story-top Former first daughter Barbara Bush gets married
Oct 09, 2018 - 02:49
Barbara's aunt, Dorothy Bush Koch, served as officiant of the wedding. Bush , was in attendance, looking as adorable and handsome as ever.

isis-killer-beheading-video-story-top Nana Patekar cancels press conference on Tanushree Dutta's sexual harassment allegations
Oct 09, 2018 - 02:33
However, Tanushree lashed out saying that her husband is still working with Nana. Dutta also named choreographer Ganesh Acharya in the complaint.

isis-killer-beheading-video-story-top Trump urges Chicago to adopt 'stop and frisk' policies
Oct 09, 2018 - 02:13
He turned to Chicago as an example of major city with a crime problem. But, that's not the kind of help Donald Trump is offering.

isis-killer-beheading-video-story-top Gary Sanchez, Aaron Judge power Yankees to Game 2 win in ALDS
Oct 09, 2018 - 01:25
I'm not sure", he said. "I'm not sure", Price said, when asked what was behind his command issues. "It's an honor to me". Both the Judge and Sanchez homers came on 91-mph fastballs, a couple of ticks below Price's 93-mph average this season.

isis-killer-beheading-video-story-top 'Walking Dead' actor Scott Wilson, who played Hershel, has died
Oct 08, 2018 - 02:15
The cause of death has not been made available. " The Walking Dead " actor Scott Wilson has died at the age of 76. In Cold Blood director Richard Brooks selected Wilson for the role in part because he was unknown at the time.

isis-killer-beheading-video-story-top Vettel and Verstappen collide in Japan
Oct 08, 2018 - 02:13
Daniel Ricciardo recovered from 15th to fourth, while Kimi Raikkonen was fifth on a desperately torrid afternoon for Ferrari . Esteban Ocon completed a double points finish for Force India in ninth while Carlos Sainz took the final point for Renault.

isis-killer-beheading-video-story-top Eight people remain detained in Saudi corruption crackdown, Crown Prince says
Oct 08, 2018 - 02:00
Saudi Arabia is a large country with particular significance for the Islamic world. All public protests are banned in the kingdom, as are political parties.