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The International Monetary Fund has upgraded its 2010 global growth forecast, on the back of robust growth in Asia and renewed U.S. private demand. But it warns there are still big risks.
In its latest World Economic Outlook and Global Financial Stability reports, the IMF raised its 2010 world output forecast to 4.6 percent from the previous 4.2 percent. For regional development, the IMF raised its expectations for the US and Japan, while keeping its forecast for the Euro zone unchanged.
It says sovereign debt risks in Europe could escalate and drag on the global economy. It also says growth in major economies is likely to slow down in 2011.