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IMF: Global Economic Growth Slowing, Uneven

Traders at their desks at the Frankfurt stock exchange, Oct. 7, 2014. While stock market prices have risen, other investments have been subdued, according to the International Monetary Fund (IMF).

Experts at the International Monetary Fund (IMF) say global economic growth is uneven and will be a bit slower than expected this year and in 2015.

A report made public Tuesday in Washington puts global expansion at 3.3 percent this year and 3.8 percent next year. Both figures are lower than earlier estimates.

IMF research director Olivier Blanchard says stronger growth would make it easier to deal with budget and other economic problems. But he called boosting growth a "tall order."

IMF experts say growth could be hampered by rising geopolitical tensions in Ukraine, the Middle East and West Africa. Experts also say the effects so far have been largely limited to the nations directly involved.

The uneven nature of the recovery is seen in stronger growth in the United States, Britain and India, but slowing growth in China. The IMF's Blanchard says China is maintaining high growth despite the end of a housing and credit boom.

IMF experts urge governments to continue efforts to bolster the economy with low interest rates and to be cautious in budget-cutting that can reduce demand in the economy. They also say low interest rates make this a good time to invest in infrastructure that boosts employment now and productivity in the future.

Some information for this report comes from AP, AFP and Reuters.