Free Republic

The US recovery "remains tepid", according to the annual report from the International Monetary Fund (IMF). It has cut its growth forecast for the US economy to 2% this year from an earlier estimate of 2.1%. The IMF warned of risks from the eurozone debt crisis and uncertainties surrounding domestic policies, with an election in November and the debt ceiling needing to be raised in 2013. But it said there was also a chance that the economy could recover faster. The IMF said non-financial firms could invest more than expected and the housing market recovery may accelerate. Its report said...

TORONTO (AFP) – G20 leaders Sunday were singing a new tune -- "growth friendly fiscal consolidation" -- which in a few short weeks of behind the scenes haggling has become the slogan of the day. The term first seems to have emerged earlier this year in Washington, as governments undertook a delicate diplomatic dance to unite opposing views on how to shore up global economic recovery. In April the International Monetary Fund (IMF) published its forecasts for world growth, and warned major economies were shouldering unprecedented levels of public debt which could derail the world economy. "The challenge is to...