IMF: Global economy to slow in 2005

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Wednesday April 13, 11:52

IMF: Global economy to slow in 2005

(by Dr. Goldfinger)

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The International Monetary Fund said Wednesday that the global economy will slow to 4.3% in 2005 and maybe will keep pace in 2006.

Global economy is definitely slowing down after the record of 6% in 2003, the IMF said in its twice-annual Economic Outlook. "The expansion will continue to be underpinned by accommodative macroeconomic policies, albeit to a lesser extent than in 2004," it said.

The global recovery is hampered by Japan and eurozone that see dramatic slowdown. China and US are expected to show the best performance, according to the outlook.

Rising oil prices also contributed to the slower growing forecast, the IMF said. "The cyclical rebound could continue to be stronger than expected, especially given improving corporate and household balance sheets; growth could also provide stronger than expected in China in 2005," it added.

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