The U.S looking at a downgrade by the IMF

The possibilities for a downgrade on the U.S economy by the International Monetary Fund (IMF) look increasingly possible. In the organization's annual review of the American economy, it predicts a 2.2% growth rate for this year. The predicted growth rate is considerably lower than last year's rate of 2.4% as well as the predicted growth rate of 2.4% forecasted earlier in April this year. The IMF has urged the U.S to raise the minimum wage and offer fully paid maternity leave for women. Christine Lagarde, the IMF's managing director, praised America for its low unemployment rate and growth in the number of people hired over this year. However in the beginning of the year, the U.S economy started off at a slow pace. U.S exporters were considerably impacted by a stronger dollar and companies in the energy sector have experienced much turmoil due to unstable oil prices.

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