News / Economy

IMF: Global Economic Growth Slows

The International Monetary Fund says the global economic recovery from the worst recession in decades is moving forward, but the pace of growth will slow a bit this year.

Tuesday's report from the IMF says global economic growth will probably hit 4.4 percent in 2011, which is six-tenths of a percent slower than the previous year.

The IMF's experts say Europe's debt problems need "urgent" attention so they do not hurt the overall recovery.

The global financial institution said emerging economies are growing more strongly than developed nations, but face a risk of inflation as food and oil prices rise.  These expanding economies are also attracting significant investment from other countries, which could prompt prices to rise even faster than economic growth.   

The IMF says U.S. economic growth will speed up slightly and hit three percent this year.  The IMF's experts say the United States is benefiting from expensive efforts to stimulate the economy, but must soon mount a credible program to cut its debt to more manageable levels.

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