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IMF cuts global growth forecast, India slowdown drags it down

Jan 20, 2020 21:25 IST

The International Monetary Fund trimmed its 2020 global growth forecasts due to sharper-than-expected slowdowns in India and other emerging markets. IMF said global growth would reach 3.3% in 2020, compared to 2.9% in 2019, which was the slowest pace since the financial crisis a decade ago. It also lowered the 2021 forecast by a bit more to 3.4%. The IMF said the sharp drop for India 'accounts for the lion's share of the downward revisions', adding that a US-China trade deal was another sign that trade and manufacturing activity may soon bottom out.

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