The projected economic growth of the sub-Sahara Africa from 3.1 percent this year to 3.8 percent in 2019 is not enough to create the needed jobs for the growing population of the region, the Fund added.
"In the United States, momentum is still strong as fiscal stimulus continues to increase, but the forecast for 2019 has been revised down due to recently announced trade measures, including the tariffs imposed on $200 billion of USA imports from China", IMF report said.
It cited US tariffs on solar panels, washing machines, steel and aluminum, in addition to retaliation by trade partners, as potentially depressing factors.
"The government has chose to do both", he said while addressing a ceremony to launch Naya Pakistan Housing Programme, a flagship project of his government to build 5 million houses in five years for low income people.
Even though Indonesia is not included in the International Monetary Fund list of most vulnerable economies (Argentina, Brazil, South Africa and Turkey), as its economic fundamentals and its financial sector stability are now much stronger than during the 1998 Asian economic crisis and the 2008 global financial crisis, it is by no means a time for complacency.
The IMF had recently termed the exchange rate as "overvalued".
The report also amplified worries about worldwide trade, echoing numerous earlier IMF statements, but noted that trade tensions have thus far affected individual sectors more directly than the financial system.
The body now expects the USA economy to grow at a rate of 2.5 percent in 2019, a 0.2 percentage point decline from its April estimates.
That puts pressure on emerging market economies such as Turkey and Argentina, which have large amounts of debt which concerns investors.
Last year, China shipped goods worth $375 billion more to the USA than it took in from the United States, a figure Trump has often said he wants to curb sharply in an effort to promote American businesses.
"Iran and Russian Federation, both faced with USA sanctions, have devised plans to increase trade interaction and ease mercantile regulations", Iran's state-run Tasnim News Agency added.
The Treasury's currency report will be released just a few weeks after the USA currency manipulation guidelines were included in the new United States-Mexico-Canada Agreement.
The model also includes the effects of a reduction in business confidence that reduces investment and leads to a tightening of financial conditions.
The Washington-based institution had predicted a 2019 growth rate of 1.5 percent for Russian Federation in its last update in July.
China's economy is also showing signs of moderating and that could be exacerbated by its trade disputes with the United States, which has imposed tariffs on $250 billion worth of imports from Beijing and is threatening duties on $267 billion more. The government has already hiked gas tariff on average by 35 percent and more could follow.