The International Monetary Fund maintained its forecast for weak global growth on Tuesday and warned that further stagnation will fuel more populist sentiment against trade and immigration that would stifle activity, productivity and innovation. In the latest update of its World Economic Outlook, the IMF said that a drop in U.S. growth for 2016 due to a weak first-half performance would be offset by strengthening in Japan, Germany, Russia, India and some other emerging markets.
Egypt's central bank has closed 48 foreign exchange bureaus since the start of the year for trading at black market rates and other violations, banking sources said today, as the country tries to end speculation against the Egyptian pound.
David Lipton, first deputy managing director of the IMF, warned in a speech to a group of economists in the southern city of Shenzhen that companies' indebtedness is a "key fault line in the Chinese economy".
Growth in China's fixed-asset investment slipped below 10% for the first time since 2000 in January-May as a boost from record credit growth seemed to be quickly fading, putting expectations of further stimulus back on the table.
International Monetary Fund chief Christine Lagarde said on Friday there were no economic positives to Britain leaving the European Union and that the impact would range from "pretty bad to very, very bad."