International Monetary Fund downgrades SA's 2018 growth forecast to 0.8%

11 Octubre, 2018, 07:30 | Author: Arnold Perez
  • IMF should objectively evaluate CPEC projects while granting Pakistan bailout package says Beijing

Pakistan's fiscal deficit was on target to hit 7.2 percent of gross domestic product in the fiscal year ending in June 2019, but the government has introduced measures to bring it closer to 5 percent.

According to reports, the country's premier apprised participants why the government had turned to the International Monetary Fund for a bailout package.

The effects on the USA and China would be particularly severe, with 2019 GDP losses of more than 0.9% in the U.S. and 1.6% in China in 2019.

"So, it (India's debt) is substantially less than the global debt as percentage of world GDP", Gasper told PTI.

Still, investors have thus far differentiated among emerging markets, rather than fleeing wholesale. He said that if African countries did not find "creative ways" of managing their debt, this could result in poverty levels being prolonged longer than necessary.

The downgrade reflects a confluence of factors, including the introduction of import tariffs between the United States and China, weaker performances by eurozone countries, Britain and Japan, and rising interest rates that are pressuring some emerging markets with capital outflows, notably Argentina, Brazil, Turkey, South Africa, Indonesia and Mexico.

New bank resolution regimes meant to avoid future bailouts are largely untested, the Fund said in its biannual global financial stability update.

Debt in advanced economies, since the global financial crisis, has increased quite substantially while the private sector has been very gradually leveraging, he added.

More news: Sears planea declararse en bancarrota
More news: Michael strengthens into Category 4 Hurricane
More news: May's possible Brexit deal could be backed by 30-40 Labour MPs

The IMF has slashed its latest growth forecasts, downgrading the US, China, the eurozone and the United Kingdom, as tit-for-tat tariffs bite.

"So, it's very stable".

The report also amplified worries about global trade, echoing numerous earlier IMF statements, but noted that trade tensions have thus far affected individual sectors more directly than the financial system. "So, India is not an emerging market economy where leveraging is progressing fast", Gasper said. Total debt is 247 percent of the GDP.

An assessment by the State Bank of Pakistan and the finance ministry showed that Pakistan needed Dollars 11.7 billion to service its external debt in the current fiscal year 2018-19.

The fund, in its latest World Economic Outlook report, said the country needed to implement reforms to improve policy certainty and the efficiency of state-owned companies.

The government took the decision after friendly countries did not bail it out even though Khan himself went to Saudi Arabia with a "begging bowl", the Express Tribune reported.

The report analysed China's public balance sheet and found that its general government net financial worth has deteriorated in recent years to about 8 per cent of GDP, largely because of subnational borrowing and underperforming public corporations.

Recomendado:



Popular

Christina Aguilera rememoró su beso con Madonna y porqué nadie lo recuerda
Luego de 15 años, la artista dio detalles sobre la comentada presentación. Para pillar la reacción de Justin Timberlake .

Nintendo Stealth Launches ‘Souped-Up’ ‘The Legend of Zelda’ on Switch
As the name suggests, it's essentially a Netflix-style library of classic NES games you can play that changes over time. Apparently, Nintendo wants to make the game a bit more relaxed for any Zelda noobs who might be playing.

Australia to Stick with Coal Despite Dire UN Climate Warning
It has said it has no intention of scaling back fossil fuel production because without coal, household power bills would soar. While the United Nations panel says technically that's possible, it saw little chance of the needed adjustments happening.

Here’s when the Grand Strand can expect impact from Hurricane Michael
While it is the beginning of the off season, tourist on vacation were sticking around, even if they were avoiding the ocean. Laurent Weissberger from Montreal, Canada is staying in Garden City this week and has never experienced a tropical storm.

Wall Street dives, setting the ASX up for heavy losses at open
But historically, a monthly move of one to two deviations, or 20 to 40 basis points now, would result in flat S&P 500 returns. Investors also are bracing for bad trade-related news as corporate reporting season gets started in earnest this week.

Michael Essien tips Chelsea for English Premier League title
And we hope that they come back healthy and play these easy competitions, the Premier League , the Champions League and all this. If you want to see fresher, give them a summer break - for Jordan Henderson, it was exactly two weeks, which is amusing .

Famosa vidente predice destino fatal para Kate del Castillo
Durante un programa radiofónico "El Show de Don Cheto" Tavares declaró que la Actriz podría morir por un ataque de los cárteles mexicanos.

#MeToo: Popular comedienne Kaneez Surka accuses Aditi Mittal of sexual misconduct
Surka said seeing Mittal's name all over social media as "a champion of the cause" had been troubling her for some time. In a post on Twitter, Kaneez shared how Aditi kissed her while she was on the stage, without asking for her permission.

Polio-like disease that's paralyzing kids now in Chicago, Pittsburgh
Though the CDC says it's not necessarily proven to guard against AFM, they recommend frequent hand-washing with soap and water. The CDC reported 362 total cases from August 2014 to August 2018 with a major rise in cases reported in 2016 across 39 states.

Conservatives Blast Trump for Anemic Response to Saudi Journalist Jamal Khashoggi's Disappearance
Saudi officials maintain he left the consulate shortly after entering, although it has failed to provide evidence to support that. Iran was exporting between 2.5 and 2.7 million bpd in April before the United States announced the return of sanctions.