Forbes, IMF differ on Nigeria's economic growth

Forbes, IMF differ on Nigeria's economic growth

With record exports to China, the U.S. and Germany all helping grow the overall value of Swiss exports by 4.8 billion Swiss francs (€4.1 billion) since the first quarter of 2017.

"To correct the underlying imbalances, fiscal and monetary actions needed to be undertaken without delay", the Finance Ministry said.

"It's the combination of the two that is probably showing some of the tensions that we see in terms of indices, short-term indicators as well as possibly market volatility", Lagarde said. "While Nigeria will grow from 1.9 per cent in 2018 to 2.3 percent in 2019, South Africa and Angola are projected to move from 0.8 to 1.4 and -0.1 to 3.1 per cents respectively".

The worldwide organisation downgraded its predictions for global growth this week, and is now forecasting 3.7 percent global growth in both 2018 and 2019.

The State Bank of Pakistan said it believes "this adjustment in the exchange rate, along with lagged impact of recent hikes in [interest rates] and other policy measures to contain imports will correct the imbalances in the external account".

Countries must come together to modernise - not dismantle - the global trade system, International Monetary Fund (IMF) chief Christine Lagarde said yesterday, in a rallying cry against protectionism echoed by economic chiefs rattled by recent trade disputes.

The annual financial meetings take place at a time of growing concern over trends other than trade, such as moves to raise borrowing costs in the US and some other regions to help cool growth and keep inflation in check.

Google Aware Of Large-Scale Data Breach But Chose Not To Disclose It
Google's public statements state that it has found no evidence that any user profile data has been misused. The API allowed users to grant access to their and their friends' profile information to apps.

Saudi Journalist Killed, Dismembered at Consulate in Istanbul
The Saudi Consulate insists Khashoggi left its building, contradicting Turkish officials who say they believe he is still there. While Riyadh claimed he had left the consulate after his visit, Turkish police said Khashoggi did not emerge from the building.

SpaceX satellite launch lights up night sky, social media
SpaceX has previously launched a Falcon 9 from Vandenberg and landed it offshore in the Pacific Ocean aboard a droneship. The booster first saw action back in July, delivering 10 Iridium NEXT communications satellites into orbit.

On Monday, it downgraded world growth forecasts for next year, blaming new trade barriers.

"Going to the International Monetary Fund is a positive trigger because it will remove the underlying causes for concern, which is that government targets will further weaken", said Suleman Maniya, head of research at local brokerage house Shajar Capital.

Some energy-rich emerging market countries have fared better due to higher oil prices, with Saudi Arabia and Russian Federation seeing forecast upgrades.

China's economy could also take a hit: The IMF revised its forecast for economic growth in 2019 down to 6.2 percent, slightly lower than previous estimates and down from 6.6 percent this year.

United States investors have for some time ignored the increasingly strident White House rhetoric over trade with China to send stock markets to new highs. "And we've canceled a couple of meetings because I say they're not ready to make a deal".

The model also includes the effects of a reduction in business confidence that reduces investment and leads to a tightening of financial conditions.

According to the IMF, Japan's growth is projected to soften to 0.9 percent in 2019, unchanged from the July estimate. In September, Trump imposed tariffs on almost $200 billion of Chinese imports, with China responding with higher tariffs on about $60 billion of US imports.

Related Articles