Global economy may be turning around from stagnation: IMF

Tokyo

THE global economy seems to be gaining momentum and could be at a point where it is ready to shake off the decade of sluggishness that has prevailed since the 2008 global financial crisis, the International Monetary Fund (IMF) suggested on Tuesday.

Its flagship World Economic Outlook (WEO) report echoes the growing global optimism over economic prospects, especially that for Asia, voiced recently by the likes of the World Bank, the Asian Development Bank and the Organisation for Economic Co-operation and Development (OECD).

The IMF report said: "But even as things look up, the post-World War II system of international economic relations is under severe strain."

It cited the growing threat of protectionism, driven by tensions in advanced economies over …