The world economy is enjoying its most widespread and fastest growth spurt since a temporary bounce back from the global recession in 2010, the International Monetary Fund said on Tuesday, as it released a series of upward revisions to its economic biannual forecasts.
In a rare upbeat World Economic Outlook, published at the start of the annual meetings of the IMF and World Bank in Washington, the fund added that the unexpectedly good news had further to run in 2018 and higher investment was also beginning to improve the longer-term economic prognosis.
The last time the global economy grew so fast was in 2010 as the world economy staged a temporary recovery from the 2008-09 financial crisis, so this year’s performance was significantly stronger, according to Maurice Obstfeld, chief economist of the IMF.