Dubai-Mubasher: The global economy will likely grow at a slower pace in 2015 compared with a year earlier, pressured by China’s economic slowdown, warned Christine Lagarde, head of the International Monetary Fund (IMF).

Lagarde also said a delay in the Federal Reserve’s decision to raise the interest rate unchanged will fuel worries and fluctuations in stock markets and may lead global companies to file for bankruptcy.

Meanwhile, the possible interest rate hike and a rise in the U.S. dollar may also result in economic problems to some global companies, Lagarde said.

The emerging markets are the main driver of growth in international economies, the IMF report stated, adding that the emerging countries will see further fluctuations which will weigh on the global economy.