IMF: global recovery remains weak

IMF chief Christine Lagarde warned that governments had failed to deal with longstanding issues.

The IMF warned that the global recovery is sluggish and still vulnerable to economic shocks. IMF chief Christine Lagarde said the recovery was mediocre because governments had failed to deal with longstanding issues.

According to the latest edition of its World Economic Outlook, oil-producing nations and some emerging economies will see weaker growth in 2015. The IMF forecasts global growth of 3.5% in 2015 and 3.8% in 2016 but expects Brazil, Russia and India to contract. China's growth forecasts were unchanged with growth slowing to 6.8%. UK forecasts were unchanged at 2.7%, while the eurozone should grow at 1.5%.

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