The world faces years of sluggish growth unless leading economies undertake difficult economic reforms, the International Monetary Fund warned yesterday in a downbeat World Economic Outlook.
Launching its twice-yearly forecasts amid tensions over the US government shutdown, the fund trimmed predictions of global expansion for 2013 and 2014 with all the downgrade stemming from weaker prospects in emerging economies.
The message to finance ministers and central bankers ahead of this week’s autumn meeting was that they must raise their game if the world economy is to return to the pre-crisis 4 per cent plus growth rates.
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