^{Thursday 8th July 2010}

The International Monetary Fund raised its global growth forecast for 2010 after a stronger than expected first 6 months of the year.

According to the IMF World Economic Outlook, the world economy will expand 4.6% in 2010, the biggest gain since 2007, compared with a projection of 4.2% in April.

Additionally, the IMF stated that the economies of the US and Canada are leading the advanced countries from recession, while Brazil, India and China are experiencing faster growth which is protecting global recovery against sovereign indebted Europe.

It is predicted that advanced economies will grow 2.6% this year, more than the 2.3% estimated in April. The fund cut its 2011 growth forecasts for every G7 nation except the US. The US economy will expand 3.3% this year, and 2.9% next year, the IMF said.

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