Future of global economy looks "mediocre"

Olivier Blanchard. (IMF video capture)

The global economic outlook looks worse than it did in the last quarter of 2014, despite the sharp fall in oil prices across the world.

That's according to a report launched by the International Monetary Fund (IMF) in Beijing, China on Tuesday.

The IMF says that global growth is forecast to increase moderately from 3.3 per cent in 2014 to 3.5 per cent in 2015 and 3.7 per cent in 2016.

This means the projected growth has been revised down by 0.3 per cent for both years from the October 2014 World Economic Outlook.

IMF economist Olivier Blanchard explained to Bruce Edwards what's happening to the global economy.

Duration: 4'35"

Filed under Today's Features.
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