IMF to trim global growth projection

The International Monetary Fund (IMF) is expected to release a gloomier picture of the world economy this week, trimming its forecast for global growth this year by 0.1%.

The IMF cut its projection for 2013 growth in January, when it lowered its estimate to 3.5% from 3.6% and predicted a second year of recession in the euro area. The fund is this week reportedly set to reduce its forecast once again when it issues its latest World Economic Outlook on Tuesday, the Telegraph reports. A leaked draft of the closely-watched report, seen by the Bloomberg news agency, also shows the US economy is likely to grow by just 1.7% this year, compared with an earlier forecast of 2%. The IMF has cut its estimate for growth in the world's biggest economy to account ...