Economic security

IMF chief warns of ‘disappointing’ global growth in 2016

Global economic growth will be disappointing and uneven next year, said the head of the International Monetary Fund Christine Lagarde in an article for German newspaper Handelsblatt.

"In many countries the financial sector still has weaknesses and in emerging markets the financial risks are increasing. All of that means global growth will be disappointing and uneven in 2016," said Lagarde.

Low productivity, aging populations and the effects of the global financial crisis were putting the brakes on growth, she added.

Lagarde said growth in global trade has slowed considerably and a decline in raw material prices is posing problems for economies based on those factors. The financial sector in many countries still has weaknesses and financial risks are rising in emerging markets.