Global economic growth remains on track to hit 3.9 percent this year and the next, the International Monetary Fund (IMF) said on Monday, but the expansion has become “less even” and risks to the outlook are on the rise.

“As the global cyclical upswing approaches its two-year mark, the pace of expansion in some economies appears to have peaked and growth has become less synchronized across countries,” the Washington-based multilateral lender said in a July update of its 2018 World Economic Outlook (WEO).