IMF revises down global growth forecasts

The International Monetary Fund is set to revise down its global growth forecast as economic conditions deteriorate.

Speaking in Japan ahead of talks with Prime Minister Yoshihiko Noda, IMF head Christine Lagarde said the body's upcoming growth forecast on 16 July will be cut, the Telegraph reports. In April, the IMF raised its forecast for global growth to 3.5% for 2012 and 4.1% for 2013, up from 3.3% and 4% respectively. Lagarde (pictured) said the global economic situation has become more concerning and a cooperative policy response is now needed more than ever. "Over the past few months, the outlook has, regrettably, become more worrisome," Lagarde said. "This is a global crisis. In today's i...