International Monetary Fund recommends ways of boosting Nigeria’s revenue

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"It will be detrimental on both accounts for all participants". "All countries are trying to reap these benefits, while also mitigating the risks", Lagarde said.

The G24 statement, issued on the sidelines of the meetings, said all emerging markets were "adversely affected" by excessive capital flow volatility.

The rules-making World Trade Organization, based in Geneva, has ways of addressing USA complaints that China's policies unfairly extract advanced technologies and put foreign companies at a disadvantage in its push to dominate certain industries, she said.

"Had it been any stronger, it could've been interpreted as Pakistan holding International Monetary Fund on gunpoint and robbing it - which of course would've been pretty cool!" The pair of economic powerhouses had already imposed levies on $50 billion worth of one another's exports.

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The PBOC did not immediately respond to Reuters' request for comment on Yi's remarks.

"As discussed in the April and October 2018 GFSRs, measures of equity valuations appear stretched in some markets, investors have moved into riskier asset classes in search of yield, and the share of firms with low investment-grade ratings in advanced economy bond indices has increased significantly", it explained.

Lagarde yesterday weighed into the debate, saying that yuan weakness against the US dollar was driven by the greenback's strength as the US Federal Reserve hikes interest rates. Against a basket of currencies, the yuan has depreciated less.

China's economy could also take a hit: The IMF revised its forecast for economic growth in 2019 down to 6.2 percent, slightly lower than previous estimates and down from 6.6 percent this year.

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The yuan currency has faced strong selling pressure this year, losing more than 8 per cent between March and August at the height of market worries, although it has since pared losses as authorities stepped up support.

Lagarde emphasized that evenly distributed and sustainable global economic growth requires a reduction in trade tensions, improved systems, and a good policy mix for the medium and long term.

"Owing to these changes, our global growth projections for both this year and next are downgraded to 3.7 per cent, 0.2 percentage point below our last assessments and the same rate achieved in 2017", the report said.

Writing in Pakistan's Express Tribune newspaper on Monday, he argued that the crisis facing Pakistan "has more to do with the incumbent governments postponing many fiscal decisions near the end of their tenures but still going on a spending spree to get more votes in next elections".

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"Clearly improving the choices that one makes on which infrastructure project, how does one goes about selecting the one that really contributes growth", opined Paulo Mauro of the Fiscal Monitor department of the International Monetary Fund, adding, "I think there is really the need for priority to increase revenues but there is also the need to be careful about what are the ways government can make spending more efficient".