The International Monetary Fund (IMF) has published its most positive assessment of the global economy in years. But, instead of celebrating, the Fund would like us to temper our enthusiasm. There’s something ephemeral about this burst of good news. It could evaporate quickly.
World GDP will increase 3.5 percent in 2017, according to the IMF’s latest forecast. That’s a slight improvement from the Fund’s previous prediction in January, and significantly better than last year’s growth of 3.1 percent. “We’re very happy to see the long-awaited pickup has come to pass,” Maurice Obstfeld, the institution’s top economist, said at a press conference in Washington. “Everything seems to be going in the right direction.”
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