{"id":42356,"date":"2019-01-07T08:05:09","date_gmt":"2019-01-07T13:05:09","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42356"},"modified":"2019-01-07T08:05:09","modified_gmt":"2019-01-07T13:05:09","slug":"imf-warns-world-dangerously-unprepared-for-upcoming-global-recession","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42356","title":{"rendered":"IMF Warns World “Dangerously Unprepared” For Upcoming Global Recession"},"content":{"rendered":"
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IMF Warns World “Dangerously Unprepared” For Upcoming Global Recession<\/span><\/a><\/h3>\n<\/div>\n
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In the starkest warning yet about the upcoming global recession, which some believe will hit in late 2019 or 2020 at the latest, the IMF warned that the leaders of the world\u2019s largest countries are “dangerously unprepared” for the consequences of a serious global slowdown. The IMF’s chief concern: much of the ammunition to fight a slowdown has been exhausted and governments will find it hard to use fiscal or monetary measures to offset the next recession, while the system of cross-border support mechanisms \u2014 such as central bank swap lines \u2014 has been undermined, warned David Lipton, first deputy managing director of the IMF.<\/p>\n

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IMF Deputy Managing Director David Lipton <\/em><\/figcaption><\/figure>\n

\u201cThe next recession is somewhere over the horizon, and we are less prepared to deal with that than we should be . . . [and] less prepared than in the last [crisis in 2008],\u201d <\/strong>Lipton told the Financial Times <\/a>during the annual meeting of the American Economic Association. \u201cGiven this, countries should be paying attention to keeping their economy on a level trajectory, building buffers and not fighting with each other.\u201d<\/p>\n

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While the IMF projected solid, 3.7% growth in the global economy in 2019 in its most recent, October, forecasts, with the IMF set to release updated forecasts later this month, Lipton admitted that the growth outlook is being undermined by trade tensions, policy flaws and weakness in Asia.<\/div>\n
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\u201cChina is clearly slowing down \u2014 we think China\u2019s growth has to slow, but keeping it from slowing in a dangerous way is an important objective,\u201d he said, noting that a downshift would be \u201cmaterial very broadly, not just in Asia.\u201d<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n

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IMF Warns World “Dangerously Unprepared” For Upcoming Global Recession In the starkest warning yet about the upcoming global recession, which some believe will hit in late 2019 or 2020 at the latest, the IMF warned that the leaders of the world\u2019s largest countries are “dangerously unprepared” for the consequences of a serious global slowdown. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,8262,14323,4129,418,434,534],"class_list":["post-42356","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-financial-times","tag-fiscal-policy","tag-global-recession","tag-imf","tag-international-monetary-fund","tag-monetary-policy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42356"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42356\/revisions"}],"predecessor-version":[{"id":42357,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42356\/revisions\/42357"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}