The International Monetary Fund(IMF) lowered China's growth for this year citing "large-scale disorderly corporate debt defaults or restructuring".

The IMF added that&nbsp;"China's property sector could reverberate widely". IMF predicted China will grow at 8.0 per cent this year down by 0.1 percentage point from its July estimate.

<a href="https://www.wionews.com/world/now-chinas-move-to-cut-silicon-production-disrupts-global-economy-417923">Also Read |&nbsp;Now, China's move to cut silicon production disrupts global economy</a>

China has been hit by coal and power shortages including the Evergrande property crisis. &nbsp;Evergrande has been struggling to clear its massive&nbsp;$300 billion in liabilities dragging down markets.

"China's prospects for 2021 are marked down slightly due to stronger-than-anticipated scaling back of public investment," the IMF said.

<a href="https://www.wionews.com/world/now-chinas-move-to-cut-silicon-production-disrupts-global-economy-417923">Also Read:&nbsp;Now, China's move to cut silicon production disrupts global economy</a>

In April, the IMF had pegged China's growth this year at 8.4 per cent. The international fund also lowered China's growth for next year to 5.6 per cent.

The IMF also highlighted&nbsp;"stronger-than-anticipated" pullback in public spending in China leading to growth going on a downward spiral.

<a href="https://www.wionews.com/world/china-rust-belt-province-warns-of-more-shortages-in-energy-crisis-419929">Also Read:&nbsp;China rust-belt province warns of more shortages in energy crisis</a>&nbsp;

The IMF projected the global economy would to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022 which is 0.1 percentage points lower for 2021 than the July forecast.&nbsp;

According to IMF, India's economy is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022.

"The outlook for the low-income developing country group has darkened considerably due to worsening pandemic dynamics," Gita Gopinath, chief economist of the IMF, said.

(With inputs from Agencies)

The International Monetary Fund(IMF) lowered China's growth for this year citing "large-scale disorderly corporate debt defaults or restructuring". The IMF added that "China's property sector could reverberate widely".

The International Monetary Fund(IMF) lowered China's growth for this year citing "large-scale disorderly corporate debt defaults or restructuring". The IMF added that "China's property sector could reverberate widely". IMF predicted China will grow at 8.0 per cent this year down by 0.1 percentage point from its July estimate. Also Read | Now, China's move to cut silicon production disrupts global economy China has been hit by coal and power shortages including the Evergrande property crisis. Evergrande has been struggling to clear its massive $300 billion in liabilities dragging down markets. "China's prospects for 2021 are marked down slightly due to stronger-than-anticipated scaling back of public investment," the IMF said. Also Read: Now, China's move to cut silicon production disrupts global economy In April, the IMF had pegged China's growth this year at 8.4 per cent. The international fund also lowered China's growth for next year to 5.6 per cent. The IMF also highlighted "stronger-than-anticipated" pullback in public spending in China leading to growth going on a downward spiral. Also Read: China rust-belt province warns of more shortages in energy crisis The IMF projected the global economy would to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022 which is 0.1 percentage points lower for 2021 than the July forecast. According to IMF, India's economy is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022. "The outlook for the low-income developing country group has darkened considerably due to worsening pandemic dynamics," Gita Gopinath, chief economist of the IMF, said. (With inputs from Agencies)

IMF cuts China's growth forecast amid 'disorderly corporate debt defaults'

The International Monetary Fund(IMF)&nbsp;warned on Wednesday that Asia would witness sharper-than-expected contraction in economic activity amid the coronavirus <a href="https://www.wionews.com/world/pandemic-downturn-offers-path-to-address-climate-change-imf-333245">pandemic</a>.

<a href="https://www.wionews.com/business-economy/imfs-debt-restructuring-should-help-countries-overcome-fiscal-stress-nirmala-sitharaman-335437">Also Read:&nbsp;IMF's debt restructuring should help countries overcome fiscal stress, says&nbsp;Nirmala Sitharaman</a>

"Fear of infection and social distancing measures are dimming consumer confidence and will keep economic activity below capacity until a vaccine is developed," an <a href="https://www.wionews.com/india-news/gdp-in-most-countries-to-recover-to-pre-pandemic-levels-by-2022-imf-335038">IMF</a> report said.

IMF said next year's growth will be below par in Asia especially in those countries which are dependent on tourism.

The international body said Asia's economy may contract 2.2 per cent this year due to a slump in economic activity in Malaysia, Philippines and <a href="https://www.wionews.com/india-news/modis-aatmanirbhar-bharat-important-initiative-imf-330233">India</a>.&nbsp;

The IMF warned that India's economy is likely to shrink 10.3 per cent this year even as forecast China's economy to expand 1.9 per cent even as it said Asia's economy is likely to grow 6.9 per cent next year.

"With the pandemic seemingly far from over, policy support should be sustained and, in some cases, increased," the <a href="https://www.wionews.com/india-news/further-fiscal-stimulus-warranted-in-india-says-imf-326694">IMF</a> said, adding,"full arsenal of policy support is needed that includes steps to help households and businesses cope with structural changes caused by COVID-19 such as permanent job losses in industries like tourism."

The IMF had earlier urged the Middle East and North African countries to accelerate reforms and diversify their economies amid the coronavirus pandemic as it projected the economies of the MENA region to shrink by five per cent this year.

The region which is rich in oil may continue to experience downturn in oil prices with the average price of oil expected to be $41.69 a barrel this year and $46.70 a barrel in 2021, down from $57-$64 average in 2019, the IMF forecast highlighted.

The International Monetary Fund(IMF) warned on Wednesday that Asia would witness sharper-than-expected contraction in economic activity amid the coronavirus pandemic.

The International Monetary Fund(IMF) warned on Wednesday that Asia would witness sharper-than-expected contraction in economic activity amid the coronavirus pandemic. Also Read: IMF's debt restructuring should help countries overcome fiscal stress, says Nirmala Sitharaman "Fear of infection and social distancing measures are dimming consumer confidence and will keep economic activity below capacity until a vaccine is developed," an IMF report said. IMF said next year's growth will be below par in Asia especially in those countries which are dependent on tourism. The international body said Asia's economy may contract 2.2 per cent this year due to a slump in economic activity in Malaysia, Philippines and India. The IMF warned that India's economy is likely to shrink 10.3 per cent this year even as forecast China's economy to expand 1.9 per cent even as it said Asia's economy is likely to grow 6.9 per cent next year. "With the pandemic seemingly far from over, policy support should be sustained and, in some cases, increased," the IMF said, adding,"full arsenal of policy support is needed that includes steps to help households and businesses cope with structural changes caused by COVID-19 such as permanent job losses in industries like tourism." The IMF had earlier urged the Middle East and North African countries to accelerate reforms and diversify their economies amid the coronavirus pandemic as it projected the economies of the MENA region to shrink by five per cent this year. The region which is rich in oil may continue to experience downturn in oil prices with the average price of oil expected to be $41.69 a barrel this year and $46.70 a barrel in 2021, down from $57-$64 average in 2019, the IMF forecast highlighted.

India's economy to shrink 10.3%, China to expand 1.9% this year: IMF

As the Trump administration turns the heat on China in the trade war, the International Monetary Fund(IMF) cut China's growth citing "negative effect of recent tariff actions".

<a href="http://13.232.42.114/business-economy/full-blown-us-china-trade-war-will-slow-global-growth-by-less-than-1-imf-170313">Also Read:&nbsp;Full-blown US-China trade war will slow global growth by less than 1%, says&nbsp;IMF</a>

The IMF said China will grow at &nbsp;6.2 per cent next year, down from an early forecast of 6.4 per cent. It is the slowest growth rate forecast for the Chinese republic since 1990.

"The forecast does not incorporate the impact of further tariffs on Chinese and other imports threatened by the United States, but not yet implemented, due to uncertainty about their exact magnitude, timing, and potential retaliatory response," the IMF said.

The IMF added that China was navigating a "difficult trade-off between growth and stability". The IMF had earlier forecast 6.6 per cent growth for the Communist regime this year. China's economy grew 6.9 per cent last year.

President Trump has threatened to impose tariffs on all Chinese goods entering the US, a scenario which the IMF said would have a severe impact on the Chinese economy.

The Monetary Fund further cautioned that China's growth could fall by as much as a full percentage point or more by 2019 if the "worst-case" scenario materialises, involving more tariffs by the US, a Chinese counter-response and collapse in business confidence.

Growth is expected to "remain strong elsewhere in emerging and developing Asia", the IMF said, forecasting India's growth to increase to 7.3 per cent this year and 7.4 per cent nex year. However, it said that trade uncertainty would impact the ASEAN-5 - Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

The International fund set a 5.3 per cent growth forecast for the Southeast countries this year, but lowered it to 5.2 per cent next year.

As the Trump administration turns the heat on China in the trade war, the International Monetary Fund(IMF) cut China's growth citing "negative effect of recent tariff actions".

As the Trump administration turns the heat on China in the trade war, the International Monetary Fund(IMF) cut China's growth citing "negative effect of recent tariff actions". Also Read: Full-blown US-China trade war will slow global growth by less than 1%, says IMF The IMF said China will grow at 6.2 per cent next year, down from an early forecast of 6.4 per cent. It is the slowest growth rate forecast for the Chinese republic since 1990. "The forecast does not incorporate the impact of further tariffs on Chinese and other imports threatened by the United States, but not yet implemented, due to uncertainty about their exact magnitude, timing, and potential retaliatory response," the IMF said. The IMF added that China was navigating a "difficult trade-off between growth and stability". The IMF had earlier forecast 6.6 per cent growth for the Communist regime this year. China's economy grew 6.9 per cent last year. President Trump has threatened to impose tariffs on all Chinese goods entering the US, a scenario which the IMF said would have a severe impact on the Chinese economy. The Monetary Fund further cautioned that China's growth could fall by as much as a full percentage point or more by 2019 if the "worst-case" scenario materialises, involving more tariffs by the US, a Chinese counter-response and collapse in business confidence. Growth is expected to "remain strong elsewhere in emerging and developing Asia", the IMF said, forecasting India's growth to increase to 7.3 per cent this year and 7.4 per cent nex year. However, it said that trade uncertainty would impact the ASEAN-5 - Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. The International fund set a 5.3 per cent growth forecast for the Southeast countries this year, but lowered it to 5.2 per cent next year.

IMF cuts China's growth rate on 'negative effect of tariff actions'

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IMF cuts China's growth forecast amid 'disorderly corporate debt defaults'

India's economy to shrink 10.3%, China to expand 1.9% this year: IMF

IMF cuts China's growth rate on 'negative effect of tariff actions'