Signs of recovery do not mean pain is over

GLOBAL economic prospects are starting to improve, with such key bodies as the IMF revising upwards forecasts for this year and next.

The Washington-based IMF said in its semi-annual World Economic Outlook that the global economy will expand by 3.1% in 2010, better than its July forecast of 2.5%.

China’s economy, set to grow by 9% and India’s, by 6.4%, will provide the engine of global economic renewal, said the IMF.