(VOVWORLD) - Global growth will lose momentum this year due to trade tensions, financial market instability, and currency challenges in emerging markets, the World Bank said in a report published on Tuesday.
The bank lowered its semiannual estimate, seeing global growth of 2.9% this year as the US, the Eurozone, and China slow down. World Bank forecaster Ayhan Kose said the global economy is not in a crisis and will be better off when the financial markets stablize and the trade conflicts are resolved.