IMF’s Blanchard flags ‘yet another transition’ as emerging markets struggle

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Emerging markets have not performed as well as expected, leading the International Monetary Fund (IMF) to make a sharp downward revision to their growth forecasts, the IMF's chief economist, Olivier Blanchard, said today.

At a press conference marking the release of the IMF's World Economic Outlook (WEO), chapters one and two, Blanchard said the world economy was facing "yet another transition", as advanced economies moved onto a steadier footing, but emerging markets began to slip.

Consequently,

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