Global economy in "fragile and timid recovery"
Play
Davos-Klosters, Switzerland, 26 January 2013 - The global economy faces fewer headwinds in 2013 compared with last year and will likely grow a modest 3.5%, participants at the 43rd World Economic Annual Meeting were told in Davos, Switzerland.
But Christine Lagarde, Managing Director, International Monetary Fund (IMF), described the recovery as “fragile and timid” because the Eurozone is prone to political crisis and slow decision-making processes.
The IMF forecasts 3.5% GDP growth for the global economy in 2013, while a new economic policy in Japan and strength in China and Africa provide glimmers of hope.
