Decline in World Economy Moderating- IMF's Lipsky |
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June 19,2009
The International Monetary Fund is likely to revise up its 2010 growth forecast for the world economy with signs that the rate of decline in global output has moderated, a senior IMF official said on Friday.
The International Monetary Fund is likely to revise up its 2010 growth forecast for the world economy with signs that the rate of decline in global output has moderated, a senior IMF official said on Friday.
Addressing a Turkish business conference in this southern town, IMF First Deputy Managing Director John Lipsky, however, warned that it was far too early to declare victory, with financial conditions far from normal and the world economy still in recession.
"While the latest data point to a slowing of the global contraction, there is still great uncertainty regarding the timing and pace of economic recovery," Lipsky said in prepared remarks to the Turkish Industrialists' and Businessmen's Association.
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