IMF to cut global GDP view on emerging market slowdown: report

The International Monetary Fund (IMF) is likely to cut its target for world gross domestic product growth for this year and next due to slowing growth in emerging market countries, the head of the fund tells a French newspaper.

“This phenomenon should lead us to revise our growth forecast. World GDP (growth) at 3.3% this year is not realistic anymore. A forecast of 3.8% (growth) for next year is not either. We will remain above 3%, though,” IMF Managing Director Christine Lagarde is quoted as saying by Les Echos.

The IMF is due to release new macroeconomic outlook later Monday.

Source: MarketWatch