October 16, 2019 / 8:20 PM / a month ago

World Bank likely to cut global growth forecasts again: Malpass

World Bank Group President David Malpass attends a news conference after a meeting at the Chancellery in Berlin, Germany October 1, 2019. REUTERS/Hannibal Hanschke

WASHINGTON (Reuters) - World Bank President David Malpass said the development lender will likely again downgrade its global growth outlook amid uncertainty over falling trade and investment flows, but he stopped short of calling on the United States and China to resolve their trade war.

“As we look at the data today, we will probably be looking at a further downgrade from our June downgrade,” Malpass told reporters at the start of World Bank and International Monetary Fund annual meetings.

The World Bank in June cut its global growth forecast for 2019 by 0.3 percentage point to 2.6 percent, about the same level as 2016.

The IMF on Tuesday released a new forecast that showed global growth slipping to its lowest level since the 2008-2009 financial crisis, due largely to trade conflicts.

Reporting by David Lawder; Editing by Sandra Maler

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