IMF downgrades global growth on concerns about recovery

The IMF slashes its global growth forecasts, setting a tone for the IMF-World Bank 2012 annual meetings in Tokyo this week.

IMF downgrades global growth on concerns about recovery
The IMF's Olivier Blanchard

The IMF expects the global economy to grow 3.3% this year and 3.6% in 2013, with a slump in world trade hurting emerging markets and developing countries, according to its latest World Economic Outlook, released ahead of the annual meetings that kick off today.

“Low growth in advanced economies is affecting emerging and developing economies through exports,” Olivier Blanchard, economic counsellor and director of the research department at the IMF, told a press conference...

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