Egypt's PM inspects restoration work at Ramses Exchange after fire    Egypt, Pakistan boost healthcare ties – Cabinet    Egyptian pound stable in July 9 morning trading    Egypt's electricity, public enterprises ministers discuss expanding renewables in energy-intensive industries    Escalation in Gaza as ceasefire talks remain fragile amid mounting humanitarian crisis    Egyptian authorities race to contain fallout from fatal telecom fire    UK, Egypt strengthen cooperation on green transition, eco-tourism, and environmental investments    CPME shareholders approve EGP 2.8bn acquisition of Qardy, Catalyst Partners Holding    Philippines' unemployment rate falls in May '25    Egypt, Somalia leaders discuss strategic partnership, counterterrorism in New Alamein    Egypt, UNDP discuss expanded cooperation on medical waste management, human development    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM, Uruguay's president discuss Gaza, trade at BRICS summit    Egypt, Uruguay eager to expand trade across key sectors    Egypt, Norway hold informal talks ahead of global plastic treaty negotiations    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



IMF: ‘Bumpy' road ahead for emerging economies
Published in Amwal Al Ghad on 05 - 09 - 2015

The world's lender of last resort, the International Monetary Fund (IMF), has said up-and-coming nations must do more to weather the fallout of weaker global growth and a slowdown in China's economy.
The IMF's managing director, Christine Lagarde, on Tuesday warned the emerging countries of the world that the road ahead could be "somewhat bumpy," and urged them to be "vigilant for spillovers" from China's slowdown, tighter global credit conditions and the prospect of an interest rate hike in the United States.
Lagarde also cautioned that global growth this year would be lower than previously anticipated. In July, the IMF forecast global economic expansion would reach 3.3 percent, slightly below last year's 3.4 percent.
"Overall, we expect global growth to remain moderate and likely weaker than we anticipated last July," Lagard told university students at the start of a two-day visit to Indonesia's capital, Jakarta.
Emerging markets from Indonesia to Brazil have been especially hit by the slowdown in the world's second largest economy, China. A slump in Chinese demand for commodities – a main staple of emerging economies exports – has stifled their growth and send their currencies reeling.
More trouble ahead
Lagarde said the IMF expected China's economy to slow in the months ahead, although not sharply or unexpectedly, as it adjusts to a new growth model.
"The transition to a more market-based economy and the unwinding of risks built up in recent years is complex and could well be somewhat bumpy," she said. She did add however that Chinese rulers had the policy tools and financial buffers to manage the transition.
According to the IMF, emerging economies are also facing weaker capital inflows than in years past because of a likely interest rate hike in the United States causing investors to re-direct financial investments. The US rate hike, expected for later this year, will also tighten global credit conditions, making re-financing costlier for states and businesses.
In the opinion of the IMF director, at least Indonesia was "better prepared than ever before" to face the global headwinds. Southeast Asia's largest economy had the "right tools to actually react," as it had sound public finances and a relatively small deficit, she told journalists, following a meeting with the country's president Joko Widodo.
source: Reuters


Clic here to read the story from its source.