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IMF chief hints at reduction in growth forecasts
http://hosted.ap.org/dynamic/stories/U/US_IMF_ECONOMIC_OUTLOOK?SITE=VANOV&SECTION=BUSINESS&TEMPLATE=DEFAULTIMF chief hints at reduction in growth forecasts
Jul 6, 8:28 PM EDT
The chief of the International Monetary Fund predicts that the global economy will improve over the next 18 months but says that growth might not be as fast as previously expected.
IMF Managing Director Christine Lagarde says that investment remains weak and that the recovery in the United States hinges on the ability of the Federal Reserve to gradually reduce stimulus measures and on political leaders agreeing on a fiscal plan.
Lagarde made the comments Sunday at a conference in France. The IMF is expected to refresh its economic forecasts this month. In April, it predicted global growth of 3.6 percent this year and 3.9 percent in 2015, up from 3 percent last year.
Growth was unexpectedly weak earlier this year but should gain momentum in the second half of 2014 and pick up more in 2015, Lagarde said. Still, she said, the recovery in advanced countries remains tepid, and developing countries won't grow as fast as had been expected.
