IMF predicts "slow" growth in global economy in 2012

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IMF's World Economic Outlook

The global economy is expected to grow 3.5 per cent this year, rising to 4.1 per cent in 2013, according to the International Monetary Fund (IMF) in its latest forecast released Tuesday.

The IMF has described this growth as "slowly improving" but "fragile."

Olivier Blanchard is IMF chief economist:

"So our baseline is that growth is going to be slow in advanced countries; sustained, not great, in emerging market countries, but I think the caveat or the footnote is there are many risks around the baseline."

The IMF also sees emerging markets and developing countries "doing relatively well" in 2012 and are projected to grow to 6 per cent through 2013.

However, it warned of elevated risks that still remain, particularly for Europe and the oil market.

Duration: 16″

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