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The scenario for the global economy is slowly improving,
but Governments should be alert
for potential risks.
This is the advice from the International Monetary Fund,
which today released its
latest World Economic Outlook.
It says the world economy is projected
to grow 3.5 per cent this year,
jumpstarting a stronger recovery in 2013.
Still, the IMF expects growth to be weak
and unemployment in many developed countries
to remain high.
Olivier Blanchard, Chief Economist at the IMF
So our baseline is that growth is going
to be slow in advanced countries,
sustained, not great, in emerging market countries,
but I think, you know, the caveat, or the footnote is
there are many risks along the baseline.
The IMF cites the impact of
geopolitical uncertainties affecting oil markets,
and the high risk of an
upsurge of the economic and financial crisis,
especially in Europe,
as having an impact on the global outlook.
Important measures were taken
as a result of the last one.
But they're not quite enough.
If you look at the program countries,
or if you look at some other countries in Europe,
they still have a terrible problem
of achieving competitiveness,
decreasing the fiscal deficit, having growth.
The report recommends that countries
focus on consumer and investor confidence
and policies to solidify
their economic recovery.
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