The International Monetary Fund (IMF)’s latest world economic outlook argued that risks were rising for emerging markets, even as the recovery broadened in advanced economies.
The IMF cut its emerging market growth forecast to 4.9 percent for this year and 5.3 percent for 2015 on Tuesday in its biannual report. Its forecast was down by 0.2 percent for 2014 and 0.1 percent for 2015 from its previous report in January.
Brazil and Russia were two of the main emerging nations whose growth forecasts were slashed. The IMF cut Russia’s growth for 2014 by 0.6 percent to 1.3 percent growth, while Brazil was seen growing 1.8 percent this year, down 0.5 percent from the previous IMF prediction.