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World to avoid 'double-dip' recession: IMF

World to avoid 'double-dip' recession: IMF article image

International Monetary Fund (IMF) managing director Dominique Strauss-Kahn believes the risk of a 'double-dip' recession has faded and the world is on a path to "gradual" recovery. "Our baseline forecast does not envisage a double-dip recession. The global economy will continue picking up steam in the remainder of this year and in 2010," he said. "The worst of the recession is over but a gradual recovery lies ahead." He denied that hyperinflation was a risk and said the IMF saw the opposite: "We expect global inflation to remain subdued through 2010, reflecting the modest pace of recovery." Strauss-Kahn said Asia showed the strongest signs of recovery but European and US economies were also improving. Fragility would come from unemployment, he noted.

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