Global growth is expected be 3.9 percent in 2018 and 2019

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The update to the IMF's quarterly World Economic Outlook was unchanged from January.

The report kept the global growth rate projections at 3.9 percent for this year and the next that was made in January.

Ukraine could receive a new tranche from the International Monetary Fund (IMF) in the amount of $2 billion in May or June 2018 if the country meets the conditions for cooperation under the Extended Fund Facility (EFF), the Ukraina TV and radio company has reported after an interview with Ukrainian Finance Minister Oleksandr Danyliuk in Washington.

Global growth is expected to tick up to a 3.9 percent rate in both 2018 and 2019, according to the report.

Observing that the world growth strengthened in 2017 to 3.8 per cent, with a notable rebound in global trade, International Monetary Fund said it was driven by an investment recovery in advanced economies, continued strong growth in emerging Asia, a notable upswing in emerging Europe, and signs of recovery in several commodity exporters. The fund left its forecast for euro-zone growth next year unchanged, at 2%.

There are warnings about the risks ahead, lurking dangers that could lead to the global economy falling short of the IMF's forecasts, in addition to the concerns about trade.

"While the medium-term growth outlook for India is strong, an important challenge is to enhance inclusiveness", the report said.

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Forecasts were cut slightly for Canada, the Middle East and North African countries, as well as a number of low-income developing countries.

That said, Mr Obstfeld describes longer-term prospects as "more sobering".

"While some governments are pursuing substantial economic reforms, trade disputes risk diverting others from the constructive steps they would need to take now to improve and secure growth prospects", he said.

India is widely expected to be the next global growth juggernaut.

It was not "paradoxical" that major economies were "flirting with trade war" while economies were expanding because many households had seen little or no benefit from growth.

The IMF official said that these trends are more due to technology change than to trade, and even in countries where trade backlash is not prominent, public skepticism about policymakers' ability to generate robust and inclusive growth has spread.

Obstfeld added that the Trump administration trade initiatives would do little to reduce the overall USA trade and current account deficits, as these have more to do with US spending exceeding income.