The global economy is facing a "delicate moment," beset with risks as the recovery loses steam amid trade tensions, Brexit and other factors, the International Monetary Fund warned Tuesday.

The IMF's World Economic Outlook once again downgraded global growth to 3.3 percent for 2019, which is two tenths lower than the global crisis lender forecast in January.

And while growth is expected to pick up to 3.6 percent in 2020, many things will have to go right for that to happen, including a resolution of President Donald Trump's trade battle with China.