The agency has kept its forecasts for global growth "broadly unchanged" from its last quarterly outlook, and predicts G20 GDP growth will average 2.8 percent in 2015-17, far from the take-off in growth many were hoping for. This would mean only a 0.3 percent point gain from the lean years 2012-14 and fall substantially below the 3.8 percent average of the five years before the global financial crisis.
The Organisation for Economic Co-operation and Development (OECD) cut its forecasts for global growth slightly to 2.9 percent for this year on Monday, and warned about uncertainty and the emerging market downturn.
While it predicted global growth would be boosted in 2016 and 2017 to 3.3 percent and 3.6 percent, respectively, the OECD also warned of risks to these forecasts in a downbeat assessment of the global economy.
- By CNBC's Catherine Boyle