The International Monetary Fund (IMF) revised its global economic growth forecast in its latest Global Economic Outlook report, decreasing it from 3.6 percent to 3.4 percent for 2016 due to the fragile economic outlook of emerging economies.

It also decreased its global growth forecast for 2017 from 3.8 percent to 3.6 percent. Since emerging markets have been underperforming given the negative economic global context, the IMF lowered its growth forecast for the emerging economies from 4.5 percent and 4.9 percent to 4.3 percent and 4.7 percent for 2016 and 2017, respectively.