IMF Raises Global Growth Forecasts

The International Monetary Fund (IMF) raises growth forecasts for most economies as the global economy pulls out of a steep nosedive

The International Monetary Fund (IMF) has raised growth forecasts for most economies as the global economy pulls out of a steep nosedive, but warned recovery faces stiff headwinds.

The IMF projects that the global economy would shrink 1,1 percent this year and rebound to annualised growth of 3.1 percent in 2010, better than July forecasts of a 1.4 percent contraction in 2009 and 2.5 percent growth in 2010.

In its semi-annual World Economic Outlook (WEO) report, the IMF states that, "After a deep global recession, economic growth has turned positive, as wide-ranging public intervention has supported demand and lowered uncertainty and systemic risk in financial markets"

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<br /> Mail and Guardian
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