IMF to raise its rebound forecast
Saturday August 22 2009
The International Monetary Fund (IMF) looks set to raise its forecast for the global economic rebound as signs of growth return, said John Lipsky, the fund's first deputy managing director.
"It's possible," Mr Lipsky said at the banking symposium. "We're on track, in broad terms, for a kind of recovery we'd anticipated."
The Washington-based lender, which has 186 members, last month predicted that the world economy would expand 2.5pc in 2010 after contracting by 1.4pc this year.
Since then, data has shown growth returning to the economies of Japan, France and Germany, as the financial system stabilises and business confidence returns. (Bloomberg)
