Accessibility links

IMF Upbeat on World Economy - 2004-10-04


The International Monetary Fund and World Bank ended their annual meetings in Washington Sunday with optimism about the world economy, but no agreement on debt relief.

Delegates said they expect the world economy to grow 5 percent this year - the fastest rate in 30 years - but they expressed concern about rising oil prices.

Finance ministers failed to agree on a debt-relief program to help the world's poorest nations. Several ministers, including the U.S. Treasury Secretary John Snow, said they are working hard on specific plans.

World Bank President James Wolfensohn told delegates that worries about immediate threats of terrorism are taking attention from the war on poverty, which he says leads to insecurity.

XS
SM
MD
LG