Fund raises 2007 and 2008 growth forecast

The July update of the World Economic Outlook (WEO) published on 25 July by the International Monetary Fund (IMF) increased the Fund forecast for global economic growth for 2007 and 2008 to 5.2%, from 4.9%.

The report shows that the global economy continued to expand at a brisk pace during the first half of 2007.

Charles Collyns, deputy director of the Fund's research department, told reporters yesterday that "emerging market countries have led the way, with China growing by 11.5% in the first

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