Global growth forecast to be revised by IMF

<p>The IMF is set to upwardly revise its global growth forecast.</p>

The International Monetary Fund (IMF) has confirmed that it will upwardly revise its global growth forecast in the coming weeks.

Speaking at a press conference held in Nairobi, Kenya, today (January 8th) the head of the IMF Christine Lagarde confirmed the body would revise its projections higher.

However, she refused to give any details of the new figure. Ms Lagarde also did not explain why she would be amending global growth predictions under her role at the body.

In its latest World Economic Outlook report in October, the IMF downwardly revised its growth forecast for the global economy.

The global economy was predicted by the body to grow 2.9 per cent year-on-year in 2013 and 3.6 per cent in 2014, but these numbers will rise when the IMF issues its next report.

An IMF spokesperson recently stated that a full negotiating team is to return to Athens in January to discuss the future of the Greek economy, which was hit particularly hard by the global financial crash.

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