Leak-Ridden IMF to Improve 2002 Global Economic Forecast

09 April 2002

In another promising sign for the global economic outlook, the International Monetary Fund will raise its forecast of worldwide growth in 2002 from the 2.4% predicted in December to 2.7%.

The predictions will be released next week, though some have been leaked to the press following the issue of draft copies to governments. The IMF refused to confirm subsequent reports.

Playing no small part in the upward revision is a significant improvement in the outlook for the US economy, said to be forecast for 2.2% growth after an earlier (leaked) projection of 1.4% and December’s 0.7%.

The outlook for the Eurozone, meanwhile, remains unchanged from December’s 1.2%, though the IMF is thought to be mulling an eleventh-hour upgrade to 1.4%, while Britain is up from a prediction of 1.8% at the end of last year to 2%.

In an effort to divert attention from the premature disclosure of its forecasts, the IMF will release certain sections of the report today (Tuesday).

Data sourced from: Financial Times; additional content by WARC staff