25 Jan '11, 12am

The IMF raised its forecast for world growth to just under 4.75%, with emerging economies leading the way

PARIS - THE International Monetary Fund has increased its forecast for world growth this year to just under 4.75 per cent, a senior IMF official said on Monday, with emerging economies doing much of the work. The latest update to the Fund's global forecast, which will be released Tuesday, 'indicates that 2011 global growth is expected to be slightly slower than the 4.75 per cent registered last year,' IMF Deputy Managing Director John Lipsky told a Latin-American forum in Paris. Last October, the IMF predicted world growth of 4.2 per cent for this year. In one sense the revised figures are 'rather impressive,' said Mr Lipsky, citing past annual averages of about 3.5 per cent. 'Nonetheless, the details are less satisfying regarding the performance of the advanced economies,' he cautioned. 'As is recognised universally, emerging economies have represented the driving force o...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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