The International Monetary Fund has revised down its 2013 global growth forecast to reflect a three-speed world economy in which the eurozone is lagging behind.
In its twice-yearly World Economic Outlook, the fund said emerging market and developing economies were still strong and the US was doing much better than the eurozone among advanced economies.
Highlighting the differential outlook, Olivier Blanchard, IMF chief economist, said: “The world economy is as weak as its weakest link. Given the strong interconnections between countries an uneven recovery is also a dangerous one. Some tail risks have decreased but it is not time for policy makers to relax.”
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