Global growth slowly improving: IMF

Global growth is slowly improving as the US recovery gains traction and dangers from Europe recede, but risks remain elevated and the situation is very fragile, the IMF said yesterday.

A flare-up of the eurozone sovereign debt crisis or sharp escalation in oil prices on geopolitical uncertainty could disrupt the world economy finding its feet now tensions in the eurozone have subsided, the IMF said.

“An uneasy calm remains. One has the feeling that at any moment things could well get very bad again,” IMF chief economist Olivier Blanchard told reporters as he detailed its World Economic Outlook report.