IMF: Global Economic Growth 3.5% This Year

Posted April 17th, 2012 at 9:40 am (UTC-5)
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The International Monetary Fund is a little more optimistic about global economic growth as European nations have taken action to cope with their debt crisis, and the U.S. economy grew a little faster.

Speaking about IMF's “World Economic Outlook” on Tuesday, research director Oliver Blanchard said the global economy has been on a “roller coaster” for the past six months, leaving an “uneasy calm.”

The International Monetary Fund's report comes as officials from the many member nations of the IMF and the World Bank gather in Washington for talks this week.

Blanchard said the world economy will expand by about 3.5 percent this year, and a little faster next year. The report says emerging markets will continue to grow faster than developed economies. For example, the United States' economy will expand 2.1 percent in 2012, Europe will shrink by three-tenths of a percent, while China will expand more than 8 percent.