"We'd see a clear slowdown in the economy and the impact on developing countries would be great", said Kim. Worsening notably due to the global financial crisis, it had sunk by 2016 to negative 17 percent as a share of GDP, the report said.
"In the United States, momentum is still strong as fiscal stimulus continues to increase, but the forecast for 2019 has been revised down due to recently announced trade measures, including the tariffs imposed on $200 billion of US imports from China", IMF report said.
The last one was in September, 2013 when the International Monetary Fund approved a Dollars 6.6 billion loan support to the government's programme to stabilise its economy and boost growth while expanding its social safety net to protect the poor.
Finance ministers and central bankers from numerous IMF's 189 member nations are meeting in Bali this week where concerns about protectionism have taken centre stage - especially the escalating trade war between the United States and China.
In its World Economic Outlook (WEO), the International Monetary Fund said foreign exchange interventions should be limited to address disorderly market conditions, something which RBI Governor Urjit Patel also talked about.
Based on the trade tariffs already in place, the organisation revised down its estimates of world growth this year and next by 0.2 of a percentage point to a still healthy 3.7 per cent.
IMF Managing Director Christine Lagarde confirmed that Pakistan had requested the loans after meeting with Finance Minister Asad Umar in Indonesia, without saying how much the Pakistanis had asked for.
According to the WEO report, growth is on the mend for sub-Saharan Africa, with the region's average growth projected to rise to 3.1 per cent in 2018 (from 2.7 per cent in 2017) and 3.8 per cent in 2019. It cited Australia, New Zealand and Britain as countries that are taking positive steps to better manage their assets against the growth of future liabilities.
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Riyadh insisted the Khashoggi left the building and called the murder claims "baseless". CCTV footage shows him entering the consulate but never leaving it.
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But experts questioned what Pompeo achieved on Sunday on his fourth visit to Pyongyang this year. You have no missiles flying. "We've made incredible progress - beyond incredible".
"The government has made a decision to do both", he said while addressing a ceremony to launch Naya Pakistan Housing Programme, a flagship project of his government to build 5 million houses in five years for low income people.
Khan also vowed to steer the country out of a looming balance-of-payments crisis. Pakistan's currency plunged by around 7 percent earlier this week after word of the loan request was made public.
Finance Minister, Zainab Shamsuna Ahmed who is the leader of the Nigerian delegation to the Annual General Meeting is expected to be part of the meeting.
But she said the WTO does need to work on addressing issues like subsidies.
Bali has suffered terrorist bombings in the past, and the event was being held amid tight security.
The IMF said its forecast for investment growth for FY19 is weaker than in April, despite higher capital spending in India, on account of contracting investment in economies under stress, such as Argentina and Turkey, which is also reflected in a downward revision for import growth.
"We do have extremely high deficits", Azhar said.