The International Monetary Fund (IMF) on Tuesday maintained its forecast for global growth in 2016 at 3.1 percent, saying that subpar growth will continue without determined policy action.
The IMF revised down its 2016 growth prospects for advanced economies following a slowdown in the United States and Britain’s vote to leave the European Union.
It expects advanced economies to grow 1.6 percent in 2016, lower than last year’s 2.1 percent growth and also down from its July forecast of 1.8 percent.
The Washington-based institution marked up the growth forecast for emerging economies. It expects emerging markets and developing economies to grow 4.2 percent this year, slightly higher than its July forecast of 4.1 percent. It’s the first time growth in both emerging markets and developing economies have accelerated in six years.
