Economic Growth

IMF Upgrades Global Growth Outlook

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The International Monetary Fund on Tuesday upgraded its global growth outlook as economic conditions in advanced economies continued to improve, while urging rich nations to maintain accommodative monetary policy stance, given significant downside risks.

Releasing the World Economic Outlook (WEO) Update, the Washington-based lender said it now expects the world economy to grow 3.7 percent this year, stronger than the 3.6 percent expansion projected in the October report. Growth is seen rising to 3.9 percent in 2015, broadly unchanged from the October outlook.