World economy to witness strongest year of growth: IMF outlook

  • 29/12/2003

  • Business Line (New Delhi)

In its World Economic Outlook (WEO), the International Monetary Fund has argued that unless the events take an "awful turn," the world economy will enjoy one of its strongest years of growth this year. "It is but natural then that the equilibrating forces bringing growth back to trend will come to play. Commodity prices are increasing, while central banks are slowly withdrawing the accommodative conditions that were put in place to deal with the recession. This is as it should be," says Dr Raghuram Rajan, Economic Counsellor and Director of IMF, in his foreword to the report, which is being released ahead of the World Bank-IMF annual meetings here this week.