A no-deal Brexit ranks alongside US trade policy as one of the chief threats to the world economy, according to the IMF’s latest assessment of the outlook for global growth.
In an update of its World Economic Outlook, published on Tuesday, the fund was slightly more pessimistic than it had been in April on prospects for this year and next, forecasting that global growth would slow to 3.2 per cent in 2019 — the weakest rate of expansion for a decade — before picking up to 3.5 per cent in 2020.
The projected pick-up was “precarious”, the IMF said, relying on progress in resolving differences over trade policy, as well as a stabilisation in troubled economies such as Turkey and Argentina.