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IMF to revise downwards growth forecasts – IMF head Lagarde

FXStreet (Mumbai) - In an interview for a French Magazine Les Echos on Monday, the International Monetary Fund (IMF) head Christine Lagarde noted, the Washington-based fund is expected to lower its global economic forecasts, citing slower growth in the emerging economies as the key reason for the downgrade.

Key Quotes:

“We are in a recovery process whose pace is decelerating. There is a shift between emerging countries and developed countries.”

“The first ones, who were driving a global recovery not so long ago, are slowing down. The others are seeing their momentum accelerate. This should lead us to revise downwards our growth forecasts."

"A forecast of 3.3 percent growth this year is no longer realistic. A forecast of 3.8 percent for next year neither. We will however remain above the 3 percent threshold."

The IMF will publish revised economic forecasts in October.

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