The International Monetary Fund cut its global economic growth forecasts for the third time this year, warning of weaker growth in core Euro zone countries, Japan and big emerging markets like Brazil.
It will take at least ten years for the world economy to recover from the economic crisis that started in 2007 and to get back to the normal shape, International Monetary Fund Chief Economist Olivier Blanchard said in an interview published on Wednesday.
The agreement reached by European countries for deeper economic integration was a step in the right direction but not a complete solution for the Euro zone's debt crisis, International Monetary Fund (IMF) chief economist Olivier Blanchard said.
The United States lacks a credible plan to cut its deficit over the medium term, the International Monetary Fund's chief economist Olivier Blanchard told French daily Le Monde in an interview published Wednesday.
The global economic recovery is gaining strength, with world growth projected at about 4½ percent in both 2011 and 2012, but unemployment remains high, and risks of overheating are building in emerging market economies, the IMF said in its latest forecast.