FAST FIVE: "Close To A Standstill": IMF Warns Global Growth Will Be Cut To Lowest Since Lehman

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In fact, according to Georgieva, who apparently was brought in to take the blame for Lagarde's disastrous legacy, global trade growth “is close to a standstill”, which last time we checked was 0%.

The trade tensions have partly caused manufacturing to tumble and weakened investment, creating a “serious risk” of spillover to other areas of the economy like services and consumption, Georgieva said on Tuesday according to Bloomberg.

“The global economy is now in a synchronized slowdown,” she said, noting that the fund estimates that 90% of of the world is seeing slower growth.

A deeper slowdown would require more fiscal support, Georgieva said.

Fiscal policy must play a central role,” she said.

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