IMF Releases World Economy Expectations

Friday, September 10, 1999
The International Monetary Fund has ratcheted up its growth forecasts for the world economy this year and next, as the U.S. economy maintains momentum and key emerging markets perform better than expected, according to a draft of the IMF's World Economic Outlook. But in the draft document, published in Dutch on the Dutch finance ministry's website, the IMF warned that there were risks attached to imbalances in the U.S. economy. Timely interest rate increases might be necessary to prevent a hard landing. The IMF forecast the world economy would expand 2.8 percent in 1999, compared with the 2.3 percent sketched in the previous IMF report in May. In 2000 the global economy would grow 3.4 percent, instead of 3.3, the IMF said. "The growth forecasts for all nations involved in the Asia crisis have been upped and recessions in Russia and Brazil are less deep than originally expected," it said. "Growth in Japan and Europe seems to be picking up and the expansion in the United States is continuing, almost without price or wage pressure." The fund penciled in 3.7 percent growth for the United States in 1999 and 2.6 percent in 2000, compared with 3.0 and 2.2 percent respectively in its earlier report. But it said macro-economic inequalities, including high-priced stocks and the high value of the dollar, could lead to a hard landing. "To minimize the risks and to avoid overheating timely rate increases are probably necessary," the report said. It noted signs the Japanese economy was picking up to a small extent and said domestic policy must now seek a balance between contradictory long and short-term goals.
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

 
 
Maritime Security Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1185 sec (8 req/sec)