IMF paints a bleak outlook for advanced economies

The International Monetary Fund has maintained a weak forecast for global economic growth and warned that further stagnation will fuel populist sentiment against globalization. The Fund kept its overall global growth forecasts unchanged at 3.1 percent for 2016 and 3.4 percent for 2017. IMF says that a drop in U.S. growth for 2016 due to a weak first-half performance would be offset by strengthening in Japan, Germany, Russia, India and some other emerging markets. Advanced economies as a whole will see a weakening of growth in 2016, while emerging markets and developing economies will see minimal increments.