Two-speed global recovery likely to continue in 2011

Friday, 31 December 2010, 12:41 Hrs   |    1 Comments
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Washington: International Monetary Fund has said that the world economy is likely to see a "two-speed" recovery in 2011 with emerging markets witnessing stronger growth than advanced economies.

Some emerging nations like India and China, however, are also facing the challenges of huge capital inflows and overheating.

The global economy, which grew nearly five per cent this year, is being driven by good expansion in emerging countries while many advanced nations continue to grapple with sluggish economic activities.

"The two-speed global economic recovery is likely to dominate 2011," IMF's Chief Economist Olivier Blanchard said.

According to him, weak growth in advanced economies is barely enough to bring down unemployment and emerging markets face the challenges of success, including how to avoid overheating and handle strong capital inflows.

For instance, India has alone seen Foreign Institutional Investors investing more than USD 40 billion this year.
Source: PTI
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