The International Monetary Fund revised up its forecast for global growth in about three weeks , Managing Director Christine Lagarde said on Tuesday in Nairobi .
" We will be revised up forecasts for global economic growth , " he told a news conference in the Kenyan capital , adding that it would be premature to say more.
Lagarde , who ended his two-day visit to Kenya , gave no reason for the revision .
When issuing a new report " World Economic Outlook " in October , the IMF cut its forecast , saying that global growth " is still in low gear " .
It said it expected the global economy would grow 2.9 percent year -on-year in 2013 and 3.6 percent in 2014 . It reflects a downward revision , respectively 0.3 and 0.2 percentage points , from estimates in July .
Developing countries , though still the largest contribution to global growth , losing more momentum than previously thought , the IMF said in November , although the developed countries , particularly the United States , showing signs of increasing .
The fact that the U.S. Federal Reserve has begun to change the lax monetary policy , it has impacted slow the flow of capital to developing countries because of long-term yields in the U.S. and many other countries have increased , Lagarde said Tuesday .
IMF chief had dinner with the President of Kenya Uhuru Kenyatta on Monday night in the coastal city of Mombasa .
His visit made a month after the last disbursement of the loan of 750 million dollars over three years for Kenya to support the economic policy of a major restructuring and strengthening the financial position of the government .
No comments:
Post a Comment