IMF cuts global growth projection

The International Monetary Fund (IMF) cut global growth projections on Monday, citing negative surprises in a few emerging markets notably India and increased impact of social unrest.

Global growth is now projected to rise from an estimated 2.9 percent in 2019 to 3.3 percent in 2020 and 3.4 percent for 2021 -- a downward revision of 0.1 percentage point for 2019 and 2020, and 0.2 for 2021, from the IMF predictions in the October World Economic Outlook.