IMF: Global Economy Growing But Faces Risks,
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The International Monetary Fund said Monday that the global economic recovery not only is continuing, but it is also strengthening. But,
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Although that news is good news,
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Blanchard noted a new concern is commodity prices, which have risen more than expected. He said rising food prices pose more of a problem in emerging countries,
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High commodity prices can pose a threat to developing countries,
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Blanchard said low interest rates make fiscal adjustment much easier in developing nations. He said exports have largely recovered, and declines in foreign demand have generally been balanced out by increases in domestic demand. Still, he said,
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Blanchard added that the source of low growth pre-dates the recent international financial crisis. He pointed to the depressed housing market that has led to low housing investment in many countries. Blanchard said advanced economies have only partly heeded IMF advice to be more transparent about the risks on bank balance sheets,
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The IMF's chief economist also said it will take a long time to gauge the success of efforts to improve the faltering economies in advanced countries such as Greece, Ireland and Portugal. He added that the financial crisis left no lasting wounds on emerging market economies.
IMF： Global Economy Growing But Asics Gel Kinsei
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