Article source
Bloomberg News
Article date
Mon, Apr 15, 2013
The International Monetary Fund trimmed its global growth forecast and urged European policy makers to use “aggressive” monetary policy as a second year of contraction leaves the euro area’s recovery lagging behind the rest of the world.
The global economy will expand 3.3 percent this year, less than the 3.5 percent forecast in January, after 3.2 percent growth in 2012, the Washington-based fund said today, cutting its prediction for this year a fourth consecutive time. The Washington-based IMF sees the 17-country euro area shrinking 0.3 percent, compared with a 0.2 percent retreat in January, with France joining Spain and Italy in contracting.