IMF warns US on poverty, cuts its growth forecast
The International Monetary Fund is warning the United States to tackle poverty, downgrading its forecast for the country’s economy this year.
IMF released an annual assessment of the US economy Wednesday, saying approximately one in seven Americans live in poverty.
The fund also predicted a 2.2 percent growth for the US economy in 2016, which shows a 0.2 percent decline compared to that of the last year.
During the first three months of this year, the country’s annual growth pace was 0.5 percent, down from 1.4 percent in the last three months of 2015.
The US was urged to raise the minimum wage and offer women paid maternity leave in an effort to deal with poverty.
"Not only does poverty create significant social strains, it also eats into labor force participation, and undermines the ability to invest in education and improve health outcomes,” said IMF Managing Director Christine Lagarde.
She stated that still "the US economy is in good shape," introducing forces that could hamper economic growth.
"Our assessment is that, if left unchecked, these four forces - participation, productivity, polarization and poverty - will corrode the underpinnings of growth and hold back gains in US living standards," she noted.
Trump prepares to pull US out of Paris Agreement: Report
Microsoft fires employees for organizing vigil for Gaza victims
Divestment success in US
VIDEO | Press TV's news headlines
VIDEO | Israel's push for West Bank annexation
VIDEO | Jordanian Journalists Syndicate denounces Israeli crimes against media workers
VIDEO | Grossi visits Tehran hoping to facilitate dialogue
VIDEO | Iran commemorates 13th anniversary of missile program pioneer
Israel’s aggression inflicts $8.5 billion in economic losses on Lebanon: World Bank
Hezbollah attacks Israeli military bases in Tel Aviv, Haifa
Hezbollah strikes multiple Israeli targets in fresh retaliatory operations
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
