IMF Says World Economy Getting Back On Its Feet

Now the good news for the world is that after a tedious work the global economy is bouncing back from the slowdown blue said by the International Monetary Fund (IMF) on Thursday and he also added that this recovery is indicating the rapid growth in the global economy and it’s increasing and will continue clock a growth of 3.1% in 2010. The rebound will be lead by emerging economies, especially USA, India and China, which will grow at a good rate. In July this year, IMF’s growth projection for 2010 was lower at 2.5%.

The IMF chief economist Olivier Blanchard said that “The recovery has started. Financial markets are healing,” and he also added that “In most countries, growth will be positive for the rest of the year, as well as in 2010”. But the ‘World Economic Outlook’ released by the fund added a note of caution and said that the recovery is expected to be slow and hence reversal of expansionary monetary measures has to be slow. It emphasized that the upswing was mainly a result of aggressive crisis management in the United States, Europe and Asia, and is not a self-sustaining recovery. The United States is still doing hard work on the economical balancing and the recently their summit with G-20 leaders is a very positive step and now the USA is almost balanced their economical and financial areas.

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