FMI raises forecast for global growth
The IMF on Tuesday raised its forecast for global growth to 3.5% in 2012, despite the "anemia" in the economic recovery of the West.
According to the IMF, so far, the U.S. has managed to avoid the kind of debt crisis that hit Europe, with a moderate growth that has allowed some leeway, even though the rating agencies have reduced the grade of U.S. debt.
For the Eurozone, the IMF revised slightly upwards its growth forecast for 2012 and expects a recession less deep than originally envisaged, with a GDP of 0.3% in reverse and not 0.5% as announced in January. "The recession will be shallow and short-lived in many economies in the euro area, since the confidence and market conditions have improved and the demand from other regions being strengthened," the IMF said in its report published on Tuesday Monday.
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Confess your faults one to another, and pray one for another, that ye may be healed. The prayer of a righteous man is powerful in its effects. (James 5:16).
