09 Apr 2019


Washington, DC, United States



Edited Package
Washington, DC – April 09, 2019

1. Wide IMF officials before briefing on World Economic Outlook
2. Wide journalists during briefing
3. SOUNDBITE: (English) Gita Gopinath, Chief Economist at the IMF
“A year ago, economic activity was accelerating in almost all regions of the world. One year later, much has changed. The escalation of U.S.-China trade tensions, needed credit tightening in China, macroeconomic stress in Argentina and Turkey, disruptions in the auto sector in Germany and financial tightening alongside the normalization of monetary policy in the larger advanced economies have all contributed to a significantly weakened global expansion, especially in the second half of 2018.”
4. Close journalist asking question at briefing
5. SOUNDBITE: (English) Gita Gopinath, Chief Economist at the IMF
“The U.S. economy in our forecast will slow in 2019 and then slow somewhat more in 2020. This is to be expected as the effect of the fiscal stimulus fades. And, so that is one of the important reasons for the decline. At the same time, the more accommodative monetary policy stance is helping with growth in 2020. To your question about monetary policy, we fully endorse the view that any central bank takes a very data-dependent approach which is well communicated.”
6. Mid reporter asking question
7. SOUNDBITE: (English) Gita Gopinath, Chief Economist at the IMF
“We will have to wait to see what the specific details are going to be. But, as we’ve said on many occasions, any improvement on trade relations, multilateral cooperation on this front, making sure that there is some sort of a durable resolution of trade uncertainty would all be very positive for global growth.”
8. Close reporter asking question
9. SOUNDBITE: (English) Gita Gopinath, Chief Economist at the IMF
“We have seen the negative consequences of the uncertainty surrounding Brexit, which has weighed on investment in the U.K. and is one of the factors for our downward revision of growth for 2019 for the U.K. We’ve also done our estimates of the-long term impact of a no-deal Brexit, which would mean relapsing to WTO tariff rules, and they are quite substantial, in the order of magnitude of about 6 percent for the U.K. and about half a percent for the EU.”
10. Wide IMF officials at end of briefing
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