The IMF Cuts Global Growth Targets for a Fifth Time This Year

“WASHINGTON: The International Monetary Fund trimmed its global growth forecast on Tuesday for the fifth time since early last year due to a slowdown in emerging economies and the woes in recession-struck Europe.

In its mid-year health check of the world economy, the Washington-based lender also warned global growth could slow further if the pull-back from massive monetary stimulus in the United States triggers reversals in capital flows and crimps growth in developing countries.

The IMF shaved its 2013 forecast for global growth to 3.1%, as fast as the economy expanded last year and below the Fund’s 3.3% projection in April. It also lowered its forecast for 2014 to 3.8% after earlier predicting a 4% expansion….”

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