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IMF: Global economic recovery 'weakening'

The International Monetary Fund (IMF) has warned again of a weakening global economic recovery despite government efforts to stimulate growth.

The global economy is likely to grow at a slower rate than previously forecast over the next two years, the organisation said in its latest report.

It said it now expected the eurozone to remain in recession in 2013, having previously predicted growth.

The IMF said continued problems in the eurozone were weighing on the global economy.

"The euro area continues to pose a large downside risk to the global outlook," the IMF report said.
The eurozone's economy is now forecast to shrink by 0.1% this year. Just three months ago the IMF had forecast 0.2% growth.


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