Global economy 'recovering'

US - The head of the International Monetary Fund has told a meeting of the World Economic Forum in New York that he believes the world's economy is heading for recovery.

Horst Koehler, IMF managing director, said: "I think we have to state that the global economy is still weak but we also now hope - and I call it cautious optimism - that really a recovery is under way".

He was speaking as police helicopters circled over New York while nearly 2,000 anti-globalisation protesters rallied outside

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