Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Global growth to be 'disappointing and patchy' in 2016: IMF chief

30 December 2015, 13:35

Frankfurt - Global economic growth will be "disappointing and patchy" in 2016, the head of the International Monetary Fund, Christine Lagarde, wrote in an article published in the German business daily Handelsblatt on Wednesday.

Rising interest rates in the United States, the economic slowdown in China, the persistent fragility of the financial system in a number of countries and the effects of low oil prices on producer countries "all mean that global growth in 2016 will be disappointing and patchy," Lagarde wrote.

"And the medium-term outlook has clouded over, too, because low productivity, ageing populations and the fallout from the global financial crisis are putting the brakes on growth," she continued.

The US Federal Reserve rang in the end to an era of ultra-cheap money by raising its key interest rates earlier this month.

Also Read: IMF calls for Nigeria to allow its naira currency to drop

"The Fed is treading a tightrope: normalising interest rates, while at the same time seeking to avert any risk of disturbance on the financial markets," Lagarde said.

Generally speaking, outside the highly developed economies, "other countries are better prepared than in the past for higher interest rates," she wrote.

"Nevertheless, I'm worried about their ability to absorb shocks" that could be triggered by tighter monetary policy, Lagarde cautioned.

"A lot of countries have taken on more debt, much of which is denominated in US dollars," she argued.

"Rising interest rates and a stronger dollar could push companies into insolvency and banks and governments could become infected," she warned.



Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...