IMF downgrades global growth forecast

The IMF now expects growth of 3.5% this year, compared with the previous estimate of 3.8% which it made in October, the BBC reports. The growth forecast for 2016 has also been cut, to 3.7%. The downgrade to the forecasts comes despite a major boost for the global economy - the sharp fall in oil prices, which is positive for most countries. The IMF expects that to be more than offset by weaker investment as companies struggle to find a market for their goods and services. In the eurozone, the IMF expects the recovery to continue, but not strongly. It is estimating growth of 1.2% ...