IMF projects 70% of world economy will slow this year

Lender of last resort warns of stagnating manufacturing, slumping trade growth and political turmoil

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IMF Managing Director Christine Lagarde
(Image credit: Thomas Peter/AFP/Getty Images)

Growth across 70% of the world economy is slowing amid a perfect storm of stagnating manufacturing, slumping trade growth and political turmoil, the IMF has warned.

The International Monetary Fund, which monitors emerging risks and lends to countries in distress, cut its growth forecast for 2019 to 3.3%, which would make this year the weakest since the financial crisis.

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