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Saturday, August 22, 2009

IMF says economy is recovering

The report from International Money Funds (IMF) forecast the global economic recovery has started. It also noted, however, that sustained improvement will require continued structural changes to correct global imbalances.
The IMF said that Asia must be re-oriented toward increased consumption, while the United States needs to move toward exports,. IMF Chief Economist Olivier Blanchard also cautioned that potential economic output may be lower than it was before the global financial crisis. "The turnaround will not be simple," Blanchard wrote in the report. "The crisis has left deep scars, which will affect both supply and demand for many years to come."

Full release : IMF website

This IMF report maybe give impact to world economy. The positive is when the IMF believes the global economy is recovering . It can ending the world's longest and worst global contraction since the end of World War II. .Can we trust IMF??

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