The Buzz | IMF downgrades forecast for world, emerging market economies
The International Monetary Fund is downgrading its forecast for global economic growth and says falling commodity prices and jumpy financial markets have raised global risks.
The IMF says the world economy will grow 3.1 percent this year, down from a July forecast of 3.3 percent and the slowest pace since the recession year 2009. The report is being released in advance of the IMF-World Bank annual meetings this week in Lima, Peru.
The report predicts the United States will grow 2.6 percent this year, up from a July forecast of 2.5 percent. Emerging market economies, hurt by tumbling raw materials prices, will grow 4 percent.
The IMF left unchanged its forecasts for growth in the 19 countries that share the euro currency (1.5%) and China (6.8%).
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