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Politics : The Obama - Clinton Disaster
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To: longnshort who wrote (29551)4/21/2010 2:22:07 PM
From: DuckTapeSunroof  Read Replies (2) of 103300
 
Global Economy Coming Back Stronger Than Expected

Tom Diemer - Editor
Posted:
04/21/10
politicsdaily.com

The global economy, stymied by recession a year ago, is growing faster than expected in large measure due to government action, which is also piling debt on nations that used borrowed funds for stimulus, the International Monetary Fund reported Wednesday.

China leads the way with anticipated growth of 10 percent this year, while the United States is projected at 3.1 percent and major European countries can expect combined growth of 1 percent, the Washington Post said. Overall, economic growth is projected at better than 4 percent worldwide.

"A global recession has been averted. The world economy is recovering and recovering better than we thought likely," IMF economist Olivier Blanchard said in the forecast, titled World Economic Outlook. Blanchard said government-financed programs aided the rebound but also shifted the potential peril to an explosion of debt. Government spending needs to slow down in the months ahead, the report said.

The IMF, an organization with 186 member countries, was created by the United Nations to oversee the world economy and foster economic cooperation and international trade. It also make loans to underdeveloped countries.
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