{"id":48897,"date":"2019-10-08T11:23:36","date_gmt":"2019-10-08T16:23:36","guid":{"rendered":"https:\/\/olduvai.ca\/?p=48897"},"modified":"2019-10-08T11:23:42","modified_gmt":"2019-10-08T16:23:42","slug":"close-to-a-standstill-imf-warns-global-growth-will-be-cut-to-lowest-since-lehman","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=48897","title":{"rendered":"&#8220;Close To A Standstill&#8221;: IMF Warns Global Growth Will Be Cut To Lowest Since Lehman"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/health\/close-standstill-imf-warns-global-growth-will-be-cut-lowest-lehman\">&#8220;Close To A Standstill&#8221;: IMF Warns Global Growth Will Be Cut To Lowest Since Lehman<\/a><\/h3>\n\n\n\n<p>Don&#8217;t expect any good news next week when the IMF holds its annual meeting and releases its latest World Economic Outlook report due on October 15.<\/p>\n\n\n\n<p>According to the IMF&#8217;s new head, Bulgarian Kristalina Georgieva, the monetary fund will again cut its growth forecast for both 2019 and 2020; as a reminder back in July, the IMF again cut its projection for 2019 GDP growth to 3.2% this year and 3.5% next year, its fourth downgrade since last October, and the lowest since the financial crisis amid ever-escalating trade war. In fact, according to Georgieva, who apparently was brought in to take the blame for Lagarde&#8217;s disastrous legacy,&nbsp;<strong>global trade growth &#8220;is close to a standstill&#8221;, which last time we checked was 0%.<\/strong><\/p>\n\n\n\n<p>It means&nbsp;<strong>we are about about to have a new entry in the &#8220;worst since Lehman&#8221; category.<\/strong><\/p>\n\n\n\n<p>By now it is no secret to anyone that everyone &#8211; global institutions, economists and investors &#8211; have blamed the U.S.-China tariff war as the main reason for&nbsp;slowing global growth (and catalyst behind upcoming QE). The trade tensions have partly caused manufacturing to tumble and weakened investment, creating a \u201cserious risk\u201d of spillover to other areas of the economy like services and consumption, Georgieva said on Tuesday according to Bloomberg.<\/p>\n\n\n\n<p><strong>&#8220;The global economy is now in a synchronized slowdown,&#8221;&nbsp;<\/strong>she said, noting that the fund estimates that&nbsp;<strong>90% of of the world is seeing slower growth.&nbsp;<\/strong>This is a huge change to the global economy from two years ago, when growth was accelerating across three-quarters of the globe in a synchronized upswing.<\/p>\n\n\n\n<p>&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Close To A Standstill&#8221;: IMF Warns Global Growth Will Be Cut To Lowest Since Lehman Don&#8217;t expect any good news next week when the IMF holds its annual meeting and releases its latest World Economic Outlook report due on October 15. According to the IMF&#8217;s new head, Bulgarian Kristalina Georgieva, the monetary fund will again [&hellip;]<\/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":[312,1357,434],"class_list":["post-48897","post","type-post","status-publish","format-standard","hentry","category-economics","tag-financial-crisis","tag-global-growth","tag-international-monetary-fund"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48897","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=48897"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48897\/revisions"}],"predecessor-version":[{"id":48899,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48897\/revisions\/48899"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}