Strong expansion
Source: Agencies |
January 26, 2011, Wednesday
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Print Edition
Print Edition
ECONOMIC growth in developing countries will expand at more than double the rate elsewhere but financial stability is still at risk, the International Monetary Fund said yesterday in its latest assessment in the wake of the global recession.
The IMF raised its projections for overall global economic output to an increase of 4.4 percent in 2011, slightly higher than the 4.2 percent anticipated in its October report, but slower than 5 percent in 2010.
However, IMF Financial Counselor Jose Vinals cautioned that the risk of volatility remains because of the failure to push through reforms and to address fiscal and banking problems that led to the worst crisis since the Great Depression.
The IMF raised its projections for overall global economic output to an increase of 4.4 percent in 2011, slightly higher than the 4.2 percent anticipated in its October report, but slower than 5 percent in 2010.
However, IMF Financial Counselor Jose Vinals cautioned that the risk of volatility remains because of the failure to push through reforms and to address fiscal and banking problems that led to the worst crisis since the Great Depression.
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