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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.1040 sec (10 req/sec)