IMF raises 2010 global growth forecast

The IMF has raised its estimate for global growth this year by 0.4% to 4.6%, reflecting a stronger-than-expected first half.

Its forecast is the largest jump in global growth since 2007, while the projection for 4.3% growth next year is unchanged from the April forecast. Canada and the US are leading advanced economies out of the recession, while strong expansions in Brazil, China and India are shielding the global recovery as the sovereign-debt crisis weighs on Europe, the IMF says. "The overarching policy challenge is to restore financial- market confidence without choking the recovery," the IMF says. "The new forecasts hinge on implementation of policies to rebuild confidence and stability, particula...