According to Reuters, the global economy is slowing its weakestsince financial crisis amid continuing trade disputes that have affectedbusiness confidence and investment, the International Monetary Fund (IMF)said on Tuesday.
In its Global Economic Prospects report, the IMF cut itsforecast for 2019 to 3.0% and for 2020 to 3.4%.
The report warned that the global economy was witnessing a "coordinatedslowdown and an uncertain recovery".
One of the cures the IMF proposes is to boost financial inclusion.
"The global outlook remains unstable," said IMF chief economist,Gita Gopinath, warning that "there is no room for policy mistakes".
Over the past year, the IMF has trimmed growth forecasts for 2019amid worsening trade disputes.
Trade disputes, combined with a slowdown in global car sales, meanthat trade growth slowed sharply, falling in the first half of the year to itsweakest level since 2012, with an estimated increase of only 1.1% this yearafter a 3.6% increase in 2018.