A global economic growth forecast by the International Monetary Fund for 2005 is unchanged at 4.3% despite disappointing figures from the US current account deficit, according to IMF managing director Rodrigo Rato.

"We do not see any data indicating any weakening of the growth, nor any acceleration. We expect to maintain growth around 4.3%, above 4%. Oil prices are around where we put them, but there has not been an acceleration from there. Neither has there been any increase in inflation," said Rato on a trip to West Africa.

Despite disappointing figures from the US account deficit and tough times for oil, the IMF decided not to change its global economy outlook. The IMF top official also stressed that the European Central Bank has no right to rule out an interest rate cut if economic growth weakens.

April’s forecast for the US economy went in line with the real figures at about 3.5% to 3.6%, according to Mr. Rado.

Oil hikes threatened economic growth all over the globe within the inflatory tendencies although the expectation for it remained stable. "The oil price is in a range which doesn’t look that high any more, even though it is at $50. The evolution of the North American current account deficit has still not been corrected and that is a risk that is still weighing on the world economy and growth," said Rato.