Economy recovering, say finance chiefs

WORLD finance chiefs meeting in Washington this week will express satisfaction with a rebounding global economy, but also highlight risks from surging oil prices, turmoil in Iraq and other factors.

Meetings this week of the Group of Seven finance officials and annual gatherings of the International Monetary Fund and World Bank also are expected to give greater recognition to China’s economic clout, and to discuss further debt relief to the world’s poorest nations.

IMF managing director Rodrigo Rato said recently the organisation was likely to upgrade its forecast for global economic growth.