IMF Trims Global Growth Estimates For 2020-21 But Sees Improving Outlook

Improving US-China trade tensions have eased uncertainty and the world economy may have hit bottom but a sharp slowdown in India is creating a drag worldwide, the International Monetary Fund said Monday

Washington, (UrduPoint / Pakistan Point News - 20th Jan, 2020 ) :Improving US-China trade tensions have eased uncertainty and the world economy may have hit bottom but a sharp slowdown in India is creating a drag worldwide, the International Monetary Fund said Monday.

In the latest update to the World Economic Outlook, the IMF cut the global growth estimate for 2020 by one tenth compared to the October report, dropping it to 3.3 percent, and lowered the 2021 forecast by a bit more, to 3.4 percent.

The sharp drop for India "accounts for the lion's share of the downward revisions," the IMF said.