Tokyo

THE global economy will grow by a relatively modest 3.5 per cent this year as improved performance by advanced economies is offset by a slowdown in major emerging economies, the International Monetary Fund (IMF) said in its latest World Economic Outlook (WEO) published on Tuesday.

The bi-annual report predicted that global growth in 2016 should pick up to 3.8 per cent but at the same time offered an overall sobering assessment of medium-term prospects for advanced and emerging economies alike.