Global growth is expected be 3.9% in 2018 and 2019

The IMF does not think the Government's policy to ban foreigners from buying Kiwi homes will have much of an impact

The International Monetary Fund has revised its economic growth forecast for the Czech Republic in 2018 from a projected 2.6 percent in the fall of a year ago to 3.5 percent of the GDP.

The Washington-based IIF is projecting growth of 2.1 per cent for this year and 2.6 for 2019 and the World Bank is forecasting growth of 2.5 and 3.2 per cent for 2018 and 2019, respectively.

"Recent import restrictions announced by the United States, announced retaliatory actions by China, and potential retaliation by other countries raise concerns in this regard and threaten to damage global and domestic activity and sentiment", the International Monetary Fund said.

It said growth was on course to be 0.1 points higher in 2018, at 1.6%, but left its 2019 forecast unchanged, at 1.5%.

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Maurice Obstfeld, research chief at the world's lender of last resort, said that long-term prospects for the global economy are "sobering" as escalating tensions over trade "present a growing risk" to prosperity.

Also, the dramatic normalization of monetary policies in major economies would increase volatility in the global financial market and may affect growth.

Governments should take advantage of the good times to make structural reforms and put in place tax policies that raise the potential output of their economies, Obstfeld said.

The number of bailouts of African countries has also increased in recent years as states became more vulnerable to commodity price crashes.

In the developed economies, he says, ageing populations and low growth in productivity (the amount each worker produces) mean they are unlikely to achieve the per capita growth rates they managed before the crisis - and it is per capita growth that drives average living standards.

U.S. and United Kingdom warn of imminent Russian global cyber attack
Russian Federation also insists it is committed to let the UN-backed watchdog do its work in Syria , promising "not to interfere". Kremlin spokesman Dmitry Peskov told reporters in a conference call that London and Washington had not presented any evidence.

Washington cries out against United States economy's trade deficit of more than 568 billion billion, of which 375 billion correspond to gap with China, whose regime accuses of unfair competition and technology ft. China is expected to expand 6.6 percent and 6.4 percent, while India should rise 7.4 percent and 7.8 percent.

Over the medium term, China's growth is expected to gradually slow to 5.5% from 6.6% in 2018 with continued rebalancing from investment to consumption.

He said the recent tax reform in the U.S. will make things worse, stating "we now expect the USA current account deficit for 2019 will be roughly $150 billion higher", as a result of the tax and spending changes introduced earlier this year.

India will grow 7.4% this year and 7.8% in 2019, both unchanged from January.

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