The International Monetary Fund (IMF) has cut its forecast for world growth for 2018 and 2018 due to increasing debt levels.
According to the IMF, the global gross domestic product forecast was cut by two-tenths to 3.7 percent for 2018 and 2019.
This was revealed in the IMF quarterly World Economic Outlook Report issued on Monday.
The IMF expects a worsening outlook for developing economies this year and next in contrast to the July report and also downgrades for the US and China in 2019.
The IMF cautioned that risks noted in past reports “have become more pronounced or have partially materialized” in the real world.”