IMF cuts global growth forecast to 3.2% for 2016
The IMF slashed its global growth forecast to 3.2% for 2016, its fourth cut in the past year, citing China's slowdown, persistently low oil prices and chronic weakness in advanced economies. The Fund also warned of widespread stagnation risk and said weaker growth could leave the global economy more vulnerable to shocks such as currency depreciations or worsening geopolitical conflicts.