The International Monetary Fund (IMF) downgraded its global growth outlook for 2013 on Tuesday, and warned of three “new risks” that threaten to derail the global economic recovery.
In its latest World Economic Outlook report, the IMF downgraded its global growth forecast for this year to 3.1 percent, having predicted 3.3 percent growth in April. It also downgraded its growth outlook for next year to 3.8 percent, from 4.0 percent.
Olivier Blanchard, the organization’s director of research, told CNBC that as well as the “overwhelming risk” of a poor economic recovery in Europe, there were three new issues that could threaten the global economy.
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