Emerging markets face uneven outlook, says IMF
Slower commodity exports mixed with political uncertainty and weak policy making will continue to inhibit South Africa
BEIJING — Developing states continue to be the backbone of global growth, but face a series of headwinds including a slowdown in China, weak demand in advanced economies, low commodity prices and political strife, the International Monetary Fund (IMF) warned Tuesday.The IMF said the outlook for emerging markets was lopsided, with India a bright spot but sub-Saharan Africa enduring either tepid growth or recession as they are hit by a low demand for raw materials.Once considered a key driver of global growth, developing states have been battered since the financial crisis, as crucial trade with sputtering Western economies has dried up, while governments struggle with huge debts.In an update to its World Economic Outlook the IMF said emerging economies had enjoyed "a period of relative calm in recent months" after the global turmoil unleashed at the start of the year by worries over China’s economy.It also increased its forecast for expansion this year in developing states, to 4.2% f...
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