Ban on New Zealand Home Sales to Foreigners Is 'Discriminatory', Says IMF

Ann Santiago
April 18, 2018

The 3.9 per cent global growth forecast for 2018, 2019, he said, is being borne out by continuing strong performance in the euro area, Japan, China, and the U.S., all of which grew above expectations past year.

"In Nigeria, the economy is projected to grow 2.1 percent in 2018 and 1.9 percent in 2019 (up from 0.8 percent in 2017), reflecting improved oil prices, revenue, and production and recently introduced foreign exchange measures that contribute to better foreign exchange availability".

The global economy is expected to grow at a solid pace through next year, boosted by faster expansion in the United States and Europe, but after that risks will build, the International Monetary Fund said on Tuesday.

Slovenia's average annual inflation is seen at 1.7% this year and 2.0% in 2019, following a growth of 1.4% in 2017.

Although it's hard to fully assess the impact the signal the ban is sending to foreign investors, he says it "would be one thing for the Government to worry about". Two major economic reforms demonetisation and goods and services tax (GST) resulted in a slight lower growth rate of 6.7 per cent in 2017.

Commodities, including oil, gold and cocoa, are the mainstay of Ghana's $43bn economy, which surged 8.5% a year ago as the Sankofa crude field started up in May. Global trade would fall 15 percent after five years and 16 percent in the long run under such a scenario, it said.

Some central banks and governments are trying to get ahead of the curve.

Obstfeld doesn't have much to say about Canada in his report; he concentrates on the bigger, systemically important economies.

The IMF adjusted up the country's gross domestic product growth in January, with the revision in line with Seoul's growth outlook for 2018.

The IMF also highlighted some risks for the Turkish economy.

The global recovery is supported by "strong momentum, favorable market sentiment, accommodative financial conditions, and the domestic and worldwide repercussions of expansionary fiscal policy in the United States", the IMF said.

IMF Chief Economist Maurice Obstfeld stressed that the trade conflict could damage the global economy if it broadens to affect other countries, and said even the prospect of a trade war could do harm.

House attributes the rosier USA outlook to federal tax cuts, a massive US$300-billion spending package and the possibility of an additional spending or infrastructure bill. With household debt still elevated, the International Monetary Fund says the RBNZ shouldn't relax mortgage lending restrictions any further.

However, it warned that performance could be curtailed by trade barriers. Stronger U.S. demand will benefit most of the rest of the world, assuming Trump doesn't start a trade war.

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