Following a contraction of around 1½ per cent this year, the IMF now expects global growth of 2½ per cent in 2010, somewhat higher than their previous projection of just under 2 per cent.
Nevertheless, by historical standards this  BIS Review 88/2009  1  will be a modest performance and, given the nature and scale of the crisis we have experienced, the recovery is likely to be gradual, extended and uneven across regions. The IMF, meanwhile, see the risks to their growth outlook as still being tilted on the downside.