IMF warns there is ‘limited ammunition’ to fight recession

“Gopinath said the tit-for-tat tariff action would reduce global growth by a cumulative 0.8 percentage points by the end of next year” writes Larry Elliott for The Washington-based IMF said it expected global growth to be 3% in 2019 – down from 3.6% last year and a 0.3 percentage point cut from its April forecast.Although the IMF predicted growth would pick up to 3.4% next year, that represented a downgrade from the 3.6% pencilled in six months ago.Gopinath said the IMF hoped the recent trade truce announced by Washington and Beijing would result in a lasting peace.

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