"Those are the main factors behind the downgrade", Obstfeld said.
The IMF will announce its next World Economic Outlook Update in October. Nigeria's growth is set to increase from 0.8% in 2017 to 2.1% in 2018 and 2.3% in 2019 on the back of an improved outlook for oil prices.
"The widespread political malaise driving many current policy risks, including on the trade front, has roots in several countries' experiences of noninclusive growth and structural transformation, heightened by the financial crisis of 2007-09 and the difficulties that followed", said Obstfeld, who added that without intervention, the political future would darken.
Although the global recovery is in its second year, growth has "plateaued" and become less balanced, and "the risk of worse outcomes has increased", Obstfeld told reporters, and in fact the forecast for this year was revised downward, but was rounded up to 3.9 percent.
The IMF said that China would continue to grow at the slower rates it expected in April, of about 6.6 per cent this year.
International Monetary Fund chief economist Maury Obstfeld warned that "the risk of worse outcomes has increased" for the world economy as trade conflicts widened. India's economy was a key beneficiary of falling crude oil prices between 2013 and 2015, given that low oil prices incentivise consumption.
"That adds to oil and tighter global financial conditions in taking a little bit off growth for next year", he said.
Overall, the WEO sees Emerging and Developing Asia maintaining its "robust performance", posting a growth rate of 6.5 per cent in 2018-19.
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The IMF warned that some large economies in Latin America, emerging Europe, and Asia will growth at rates below its April forecasts.
The RBI will now come up with its monetary policy in August amid a five-month-high consumer price index inflation rate at 5 per cent and more than a four-year high wholesale price index inflation rate at 5.77 per cent in June.
Global current account imbalances would widen owing to a relatively high demand growth in the U.S., the report added.
An escalation of tariffs to levels threatened by the United States, China and other countries would not only have a direct effect on demand, but would heighten uncertainty and hurt investment, the International Monetary Fund said.
"Our modeling suggests that if current trade policy threats are realised and business confidence falls as a result, global output could be about 0.5pc below current projections by 2020", the report warned.
"As the focus of global retaliation, the United States finds a relatively high share of its exports taxed in global markets in such a broader trade conflict, and it is therefore especially vulnerable".
The report noted that worldwide migration pressures were "politically destabilising" and could not be dealt with without cooperative action to "improve global security, support the Sustainable Development Goals, and resist climate change and its effects".
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The event simply lacked the kind of star power that it regularly featured in the past, which might not bode well for the future. The crowd of 43,698 erupted at Nationals Park when Harper downed Muncy 13-12 with 1:11 left on the clock.
The brooch was a gift from former US President Barack Obama , and his wife Michelle when they visited the United Kingdom in 2011. It all started when one social media user tweeted about something interesting they noticed about the Queen's fashion that day.
Seven protesters were injured in Basra, an important oil port that accounts for more than 95 percent of Iraq's oil revenue. Yet, it remains underdeveloped and has suffered from chronic power outages, poor water quality and uncollected waste.
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However there was a shortage of available accommodation around the airport. "Ryanair sincerely apologises for any inconvenience". Oxygen masks dropped and lights went out within the cabin and the pilots carried out a "controlled descent".
Prior to joining this, Rabii was responsible for developing the Visual Core chip that is used in Google's Pixel smartphones . Besides Facebook , Apple, Google , Amazon, and Baidu have already embarked towards making their own hardware technologies.
On Monday, Bellhops CEO Luke Marklin surprised Carr by giving him his own 2014 Ford Escape , which he drove down from Chattanooga. That's when Knighten and two other officers took him to breakfast. "He is humble and kind and cheerful and he had big dreams".
Add Royal Family as an interest to stay up to date on the latest Royal Family news, video, and analysis from ABC News. The candid photograph shows a glowing Kate Middleton cradling her youngest son - a grinning Prince Louis .
The police say the officer spotted a auto matching the description of a vehicle connected to a murder earlier in the day. Police Activity reports that the occupants of the vehicle were 22-year-old Fidel Miranda and 30-year-old Rene Nunez.
Simon Mignolet , meanwhile, is expected to leave Anfield this summer after he lost his place to Karius last season. The 25-year-old stopper has spent two years in Italy following his arrival from Internacional in his homeland.
Houston Police take suspected serial killer into custody
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