Global recession 2019: Moody’s horrifying warning – HIGH recession risk in next 12 months

Gita Gopinath, the IMF’s economic counsellor, said that without the interest rates cuts announced by central banks in both developed and developing countries in recent months its growth forecast would be 0.5 points lower in both 2019 and 2020.

She said the IMF hoped the recent trade truce announced by Washington and Beijing would result in lasting peace.

Ms Gopinath said: “With central banks having to spend limited ammunition to offset policy mistakes, they may have little left when the economy is in a tougher spot.”

However, some economists appeared less concerned, though most shared the sentiment that growth would continue to weaken.