Warns of threats ranging from heightened political tensions in the Middle East to US-China preventing their trade war from escalating.
Managing director Kristalina Georgieva blames rising trade conflicts that could mean a loss of around 0.8% of world GDP.
Partly reflects US President Donald Trump’s combative trade conflicts with China and other countries.
Economists expect global growth to decelerate from 3.6% last year to 3.3% in 2019.
Points to heightened trade tensions as a key reason.
The International Monetary Fund cites heightened trade tensions and rising US interest rates.
Predicts that US growth will slow to 2.5% next year as the effect of recent tax cuts wears off.
But the proliferation trade conflicts has raised the risk of worse outcomes.
Trudeau praised for “excellent preparation and chairing of this challenging summit.”
Recommends it’s time to examine its corporate tax in the face of the changes in the US.
Projects Canada’s economy will grow 2.3% this year, up from 2.1% in October.
Monetary fund expects the Canadian economy to grow by 2.5% in 2017, up from an April projection of 1.9%.
…But it warns of longer term challenges related to NAFTA, US tax reform, housing market, oil price declines.
Further tightening of macroprudential and tax-based measures to mitigate speculative and investment activity should be considered.
A call for nations to “resist all forms of protectionism” absent from latest communiqué.