Risk of global slowdown flagged at Lima meetings

Lima, Peru

EMERGING market growth continues to slow and there is a risk that contagion could spread to advanced economies, slowing global output significantly, finance ministers and central bank heads on Wednesday heard in Lima, where the annual meetings of the International Monetary Fund (IMF) and the World Bank are taking place.

Meanwhile, risks to stability of global financial markets may also be mounting, say reports from IMF and from the Institute of International Finance (IIF).