Nigeria's growth not enough to create jobs, says International Monetary Fund

IMF predicts India will grow at 7.3% in 2018-’19

Pakistan says it will seek IMF bailout as reserves dwindle

While the IMF's outlook for the Chinese economy stayed at 6.6% this year, its forecast for next year of 6.2% represents the slowest growth rate the Asian country has seen since 1990.

"It was a combination of factors that basically affected emerging and frontier markets".

India's medium-term growth prospects remain strong at 7.75 per cent, benefiting from ongoing structural reform, but have been marked down by just under 0.5 percentage point relative to the April 2018 WEO, it said.

But additional tariffs and countermeasures "could lead to a broader tightening of financial conditions, with negative implications for the global economy and financial stability", the fund warned. Nor does it meet the third criterion of engaging in persistent, one-sided intervention in the foreign-exchange market, which the US Treasury defines as being when "net purchases of foreign currency are conducted repeatedly and total at least 2 per cent of an economy's GDP over a 12-month period".

Ahead of the Bali gathering, the International Monetary Fund reviewed its global growth forecast down 0.2 percent to 3.7 percent for 2018 and 2019 - citing trade tensions, protectionism and rising debt levels as the main causes.

The report applied a stress to the United States public sector assets, heavily concentrated in public pension funds, mortgages and student loans, finding that a scenario involving a severe recession, higher long-term interest rates and rapid falls in stock and real estate prices would shrink U.S. public net worth by an equivalent of 26 per cent of GDP by 2020.

IMF Chief also confirmed the news of meeting with the Minister and other Pakistani officials and said in a statement, "During the meeting, they requested financial assistance from the IMF to help address Pakistan's economic challenges".

These policies have contributed to a slowdown in economic growth, which is happening just as trade tensions with the US are starting to bite.

However, the International Monetary Fund has upgraded its forecast for Ireland and now thinks the Irish economy will grow by 4.7%this year, up from its previous prediction of 4.5%.

Some energy-rich emerging market countries have fared better due to higher oil prices, with Saudi Arabia and Russian Federation seeing forecast upgrades.

Prominent U.S. academic Jeffrey Sachs was less diplomatic in his assessment of Trump's shepherding of American trade relationships, slamming the president's repeated claims that deficits with China and other nations meant Americans were being taken advantage of.

"If they don't want to ever hear our voices, what kinds of projects are we expecting?" said Joan Salvador, a member of a Philippine women's group.

According to the IMF, Japan's growth is projected to soften to 0.9 percent in 2019, unchanged from the July estimate.

It also assumes that Trump imposes a 25% tariff on imported cars and auto parts imports.

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