IMF says global economic growth remains elusive

Lima, Peru

THE International Monetary Fund (IMF) on Tuesday downgraded its forecast for global economic growth in 2015, saying that growth still remains "elusive" six years after the world economy emerged from its deepest postwar recession.

In its latest World Economic Outlook (WEO), the IMF suggested that the global economy has entered uncharted waters in terms of knowing whether the protracted slowdown is due to short-term factors or whether deeper structural trends are at work.

"Recovery is most advanced in the United States and the United Kingdom, where monetary policy looks likely to tighten soon, but is more tentative in the euro area and Japan," according to the ha…