IMF raises world economic targets
(summary)
International Monetary Fund raised its world economic forecast.
initial forecast was …
Global economy 3.7% in April to grow 4.1%.
US 0.5% in April to grow 1.3%.
UK 1.6% in April to grow 1.8%
And IMF is concerned about inflation, despite the global recession.
(new words)
credit crunch
: a state in which there is a short supply of cash to lend to businesses and consumers and interest rates are high
synonyms: liquidity crisis, squeeze
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