WASHINGTON, D.C.: The International Monetary Fund (IMF) on Monday (Tuesday in Manila) slashed its forecast for the United States and urged policymakers to keep interest rates low and raise the minimum wage to strengthen growth in the world’s largest economy.

The global crisis lender said in its annual report card on the US economy that the country will likely grow only 2.0 percent this year, compared with the previous 2.8 percent estimate, blaming mainly the unexpected contraction in the first quarter.

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