WASHINGTON (AP) - A resilient China, rising commodity prices and sturdy financial markets are offering a sunnier outlook for the global economy and helping dispel the gloom that has lingered since the Great Recession ended.
In Asia, another dose of government stimulus has pushed China's growth forecast up a tenth of a percentage point to 6.6%, and the fund lifted Japan's outlook by 0.4 percentage point to 1.2%.
The IMF said that it expects real GDP growth for the seven oil-exporting countries in the Middle East of 1.9 per cent this year, which is a full percentage point lower than the 2.9 per cent growth it forecast for the group last October.
"The world economy may be gaining momentum, but we can not be sure that we are out of the woods", said Mr. Obstfeld.
The IMF also adjusted upward its prediction for the global economy to 3.5 percent in 2017, up 0.1 percentage point from its January forecast. Those and other headwinds are expected to keep world growth capped at 3.8% for the foreseeable future, according to the IMF's long-term outlook. It also came ahead of this week's gathering of central bank governors and finance ministers for the 2017 IMF/World Bank annual spring meeting in Washington. China's economy has steadied, thanks to government spending and an easy-money credit boom.
Its 2018 projection held steady at 3.6%, but the International Monetary Fund noted longer term growth forecasts remain "subdued" as protectionist movements starts to threaten global trade. "Fiscal policy is correctly focused on more inclusive growth by increasing social and infrastructure expenditure, financed with additional borrowing and higher revenue", the International Monetary Fund said.
Members of the OPEC cartel of oil exporters, mostly from the region, agreed past year to reduce output by 1.2 million barrels per day from January 1 for six months, to support crude prices that had shed half of their value since mid-2014.
However, Obstfeld noted, a quick recovery in the USA could mean faster interest rate hikes and rises for the U.S. dollar, putting other economies with a United States dollar-dependent exchange rate or hefty dollar-denominated debts under pressure.
In the run-up to last June's European Union referendum, the IMF's French director Christine Lagarde warned that the consequences of a Leave vote ranged from "bad to very bad" and could wipe out almost 10 per cent off our economy. But Bob Baur, chief global economist at Principal Global Investors, noted that Trump has retreated from those threats: His administration declined last week to accuse China of undervaluing its currency. Trump said last week that one of the reasons is that he's relying on savings from the health bill to support the tax plan.
Wealthy economies also face deeper problems, in particular chronically weak growth in productivity - the output produced per hour of work - and aging workforces.
The country launched a long-range rocket and conducted two nuclear tests previous year , including its most powerful to date. Pence's visit, full of Cold War symbolism, came amid increasing tensions and heated rhetoric on the Korean Peninsula.
Joe Manchin, D-W.V., Heidi Heitkamp, D-N.D., and Joe Donnelly, R-Ind., who voted to confirm the President's nominee. Judge Neil Gorsuch was confirmed Friday as the 113th justice to serve on the nation's highest court.
While Ovechkin remains lethal, the Leafs' challenge in overcoming the President Trophy-winning Capitals runs way deeper. If you're Matty or you're Mitch or you're Willie or you're (Connor Brown) or those guys, you can play.
Authorities across Oklahoma were alerted to Leforce's flight and instituted measures like checkpoints and search perimeters. Officials told our affiliates KFOR that deputy was shot multiple times near I-35 and Mulhall Road in Logan County, Oklahoma.
Ward's attorneys have argued he is a diagnosed schizophrenic with no rational understanding of his impending execution. But that isn't the only legal roadblock that the state faces as it looks to execute its first inmate since 2005.
Morano - born November 21, 1899 in Italy's Piedmont region - died Saturday at her home in Verbania, according to the AP. Morano famously attributed her long life, in part, to staying single after ending a bad marriage in her late 30s.
His brother told the Post he recently found messages on Tigre's computer reading, "I don't want to do these things anymore". He reiterated that Suffolk County detectives have been working with FBI investigators to solve the killings.
The "realities" that Trump faces include North Korean leader Kim Jong Un's accelerating pursuit of nuclear and missile technology. China, on the other hand, was a currency manipulator, a thief of USA jobs that should no longer be allowed to "rape our country".
He picked up two more on the par 5s and finished with birdie putts of 20 feet and 12 feet on the last two holes for a 5-under 67. More than just survive on Friday, he posted a 5-under 67 that gave him a share of the lead for the first time in a major.
It was Assad's first since the alleged April 4 chemical weapons attack prompted a USA cruise missile strike on a Syrian air base. Assad denied having chemical weapons and said Syria would only allow an "impartial" investigation into the incident.
As the shootout began, the Red Bulls led the two Mercedes out for their final flurry, Ricciardo starting with a 1:30.007. Overall just feeling more confident in the vehicle and today felt good, especially towards the end of qualifying in Q3.
AMD officially launches Polaris Evolved RX 500 series
Alongside the launch of the RX 580 and RX 570 video cards, AMD released a new version its Radeon Crimson ReLive software suite. The RX 570 comes next after the RX 580 and its memory clock has been increased to 7 Gbps from 6.6 Gbps of its predecessor.
Goldman Sachs' profits miss forecasts as trading struggled
Shares of the company slid 3.5 percent to $218.25 at 9:32 a.m.in NY , the worst performance in the Dow Jones Industrial Average. For the first quarter of 2016 , the financial giant reported diluted earnings per share of $2.68 on revenue of $6.34 billion.
OH police hunt for Facebook killer
Marcia Fudge of Warrensville Heights, whose district includes Cleveland's Glenville neighborhood, where Godwin was shot. She also said Stephens was "a nice guy" who was generous to everyone and was "kind and loving" to her and her children.
Arrest Made in the Murder of Google Employee Vanessa Marcotte
Prosecutors have charged Colon-Ortiz with aggravated assault, aggravated assault and battery, and assault with the intent to rape. DNA from a possible suspect was obtained during Marcotte's autopsy, and on Friday, state police learned of a DNA match.
Samsung Galaxy S8 Will Be Forgotten Soon
According to the research manager for client devices at IDC Asia/Pacific, those numbers bring very good news with them. While the voice control feature will experience a bit of delay, the rest of the Bixby will be available upon release.
Iran's Rouhani registers to run for re-election
Several former ministers and hardliner former president Mahmoud Ahmadinejad are among those who have registered, Reuters reports. He sought to reach across political lines on Friday, saying: "I will be the candidate for the whole of Iran".