IMF chief sees global growth despite oil prices

Global economic growth will stay above 4% this year, the head of the International Monetary Fund said at the weekend.

IMF managing director Rodrigo de Rato also said fuel shortages following Hurricane Katrina had shown that the US needed to raise its oil refining capacity in the long term.

"World growth is clearly above 4%. The tendency will continue this year and next year," he said at a briefing after a one-day meeting with Asia-Pacific finance ministers and central bank governors on regional

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