World Bank likely to cut global growth forecasts again - Malpass

World Bank likely to cut global growth forecasts again - Malpass
FILE PHOTO: World Bank President David Malpass speaks to Chinese Premier Li Keqiang (not pictured) during a meeting at Zhongnanhai in Beijing, China June 11, 2019. Nicolas Asfouri/Pool via REUTERS -
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WASHINGTON (Reuters) – World Bank President David Malpass said the development lender will likely again downgrade its global growth outlook amid uncertainty over falling trade and investment flows, but he stopped short of calling on the United States and China to resolve their trade war.

“As we look at the data today, we will probably be looking at a further downgrade from our June downgrade,” Malpass told reporters at the start of World Bank and International Monetary Fund annual meetings.

The World Bank in June cut its global growth forecast for 2019 by 0.3 percentage point to 2.6 percent, about the same level as 2016.

The IMF on Tuesday released a new forecast that showed global growth slipping to its lowest level since the 2008-2009 financial crisis, due largely to trade conflicts.

(Reporting by David Lawder; Editing by Sandra Maler)

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