ID :
189291
Fri, 06/17/2011 - 20:16
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https://oananews.org//node/189291
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IFM cuts global economic outlook to 4.3 percent
WASHINGTON, June 17 (Yonhap) -- The International Monetary Fund (IMF) on Friday revised down its global economic growth forecasts for this year to 4.3 percent, citing a slower-than-expected recovery of the U.S. economy and quake-led damages in Japan.
In its April report, the IMF expected the world's economy to achieve 4.4-percent growth in 2011.
By nation, the Washington-based organization said Japan, which is suffering the aftermath of the March quake and tsunami, is projected to record 0.7-percent growth, down from the previous outlook of 1.4 percent.
The outlook for the U.S. economic growth was also revised down from 2.8 percent to 2.5 percent.
But the IMF was more upbeat about the German and French economies despite the sovereign debt crises in some European nations.
It lifted Germany's growth forecasts this year to 3.2 percent from 2.5 percent, while revising up the French growth outlook to 2.1 percent from 1.6 percent.
The IMF called on advanced economies to draw up mid-term strategies to improve their state budget conditions, saying that they will come under growing inflationary pressure.
The IMF gave no fresh outlook in its latest report on the world economy.
Earlier in the day, the South Korean government said that its economy will likely pull off 4.5-percent growth this year, the same estimate made in April.
After a two-week annual meeting with Seoul government policymakers an IMF delegation suggested that South Korea tighten its monetary policy to ensure a soft landing of its economy amid inflation.
"The Korean economy's rebound from the global crisis has translated into a robust and self-sustaining expansion. Growth is projected at 4.5 percent in 2011, above the economy's underlying potential, before easing to 4.2 percent next year," it said in a statement.
In its April report, the IMF expected the world's economy to achieve 4.4-percent growth in 2011.
By nation, the Washington-based organization said Japan, which is suffering the aftermath of the March quake and tsunami, is projected to record 0.7-percent growth, down from the previous outlook of 1.4 percent.
The outlook for the U.S. economic growth was also revised down from 2.8 percent to 2.5 percent.
But the IMF was more upbeat about the German and French economies despite the sovereign debt crises in some European nations.
It lifted Germany's growth forecasts this year to 3.2 percent from 2.5 percent, while revising up the French growth outlook to 2.1 percent from 1.6 percent.
The IMF called on advanced economies to draw up mid-term strategies to improve their state budget conditions, saying that they will come under growing inflationary pressure.
The IMF gave no fresh outlook in its latest report on the world economy.
Earlier in the day, the South Korean government said that its economy will likely pull off 4.5-percent growth this year, the same estimate made in April.
After a two-week annual meeting with Seoul government policymakers an IMF delegation suggested that South Korea tighten its monetary policy to ensure a soft landing of its economy amid inflation.
"The Korean economy's rebound from the global crisis has translated into a robust and self-sustaining expansion. Growth is projected at 4.5 percent in 2011, above the economy's underlying potential, before easing to 4.2 percent next year," it said in a statement.
