"In the case of India what we flag is the fact that the overall consolidated fiscal deficit remains high and it has been the case for the last five years", Gopinath said on the sidelines of the World Economic Forum in Davos in Switzerland, Bloomberg reported.
"Multiple factors weigh on the region's outlook, including weak oil output growth, which offsets an expected pickup in non-oil activity (Saudi Arabia); tightening financing conditions (Pakistan); US sanctions (Iran); and, across several economies, geopolitical tensions", the International Monetary Fund said in its WEO Update, which also notes that the global expansion has weakened.
The IMF maintained its United States growth projections of 2.5 percent this year and 1.8 percent in 2020, pointing to continued strength in domestic demand.
"For both years, the projection is 0.3 percentage point lower than last October's projection, as softening oil prices have caused downward revisions for Angola and Nigeria".
Unveiling its forecasts at the World Economic Forum in Davos, Switzerland, the fund left its prediction for USA growth this year unchanged at 2.5 per cent.
But these fears simmered earlier this month after the preliminary estimate from the Federal Statistics Office showed Germany grew by 1.5 percent in 2018.
The fund warned that Britain leaving the European Union without a deal and a greater than expected slowdown in China could spark a further deterioration in sentiment and hit global growth, exasperating risks already posed by the deterioration in US-China relations.
Teen at center of confrontational video denounces 'outright lies' about him
However, Mr Phillips, who appeared upset in a video after that encounter , said he heard the students saying " build that wall ". Covington students had just attended the unrelated March For Life to oppose abortion when they clashed with a rival group.
"Risks to global growth tilt to the downside".
However, she also said, "While this does not mean we are staring at a major downturn, it is important to take stock of the many rising risks". Meantime, The IMF has once again downgraded its global growth forecast, which may see local shares trade lower today.
She blamed the trade tensions and worsening financial conditions for the bleak outlook.
"But the risk of a sharper decline in global growth has certainly increased".
The IMF lowered its projection for Saudi Arabia´s gross domestic product growth this year to 1.8 percent, down from 2.4 percent in its October report. A slowdown in China, the second-largest economy in the world, and Brexit uncertainty were also listed as risks to its outlook.
"The main shared policy priority is for countries to resolve cooperatively and quickly their trade disagreements and the resulting policy uncertainty, rather than raising harmful barriers further and destabilizing an already slowing global economy", it added.
The IMF noted that in some economies, addressing high private debt burdens and balance-sheet currency and maturity mismatches would require strengthening macroprudential frameworks.