New Setbacks (IMF)

World Economic Outlook Update – New setbacks, further policy action needed published by IMF indicated by Alvaro Manoel. “In the past three months, the global recovery, which was not strong to start with, has shown signs of further weakness. Financial market and sovereign stress in the euro area periphery have ratcheted up, close to end-2011 levels. Growth in a number of major emerging market economies has been lower than forecast. Partly because of a somewhat better-than-expected first quarter, the revised baseline projections in this WEO Update suggest that these developments will only result in minor setback to the global outlook…”