International Monetary Fund Managing Director Christine Lagarde says the institution will likely downgrade its 2016 global growth forecast again amid dimming economic prospects. Growth remains slow due to weak demand, flagging trade and investment and growing inequality.

Lagarde says G20 leaders need to do far more to spur demand, promote trade and globalization, and fight inequality. Possible threats to the global economy still remain. These include a recession sparked by Britain's vote to leave the European Union or slowing growth in China.