IMF lowers predictions for economic growth rate

The IMF estimates the global economy growing at 3.5% this year, according to its latest World Economic Outlook.

It is a marginal downgrade on the 3.6% growth rate the IMF forecast in its April outlook.

However, it now forecasts 2013 growth at 3.9% — down from a previous estimate of 4.1%. Moreover, it sees risks firmly to the downside.