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IMF cuts global growth forecast as emerging markets slow

WASHINGTON | Tue Jul 9, 2013 3:13pm BST
(Reuters) - The International Monetary Fund trimmed its global growth forecast on Tuesday for the fifth time since early last year due to a slowdown in emerging economies and the woes in recession-struck Europe.

In its mid-year health check of the world economy, the Fund also warned global growth could slow further if the pull-back from massive monetary stimulus in the United States triggers reversals in capital flows and crimps growth in developing countries.

IMF raises UK economic growth forecast

The International Monetary Fund (IMF) has lifted its economic growth forecast for the UK this year from 0.7% to 0.9%.

Not since April 2012 has the IMF raised its UK forecast. A Treasury spokesman said it showed that the economy was moving from "rescue to recovery".

In April this year, the Fund cut its forecast to 0.7% from 1%, sparking wide debate about whether Chancellor George Osborne should alter his policies.

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