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Automobile factory in China. Emerging markets are displaying weaker than expected growth says the IMF (Photo: Xu/Corbis)
In the latest update to its World Economic Outlook, the IMF says it expects the world’s economy to grow by 2.9 percent this year—below the 3.2 percent recorded last year. Growth is likely to be driven by advanced economies, while the performance of emerging markets will be weaker than expected.
Olivier Blanchard, IMF, Chief economist