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Emerging markets face fifth tough year, warns Lagarde

Global growth - Disappointing and uneven - SantanderCB

International Monetary Fund chief Christine Lagarde has warned of 'disappointing and uneven' global growth, with emerging economies set to see a fifth consecutive year of slowing expansion. Speaking in Washington, Lagarde said worldwide expansion this year would fall short of last year's figures and forecast that there would be only a modest expansion in 2016. She suggested that the IMF's key concerns surrounded emerging markets, which are being hit by a China slowdown, falling commodity prices, the prospects of higher US interest rates, and the risk of more dollar appreciation. But the IMF chief gave a relatively positive verdict on the advanced economies, describing the US performance as 'reasonably robust' alongside the UK, and adding that the euro area was now seeing a strengthening recovery.

 

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