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Eying Ukraine, IMF lowers emerging Europe growth forecast

Recovery of economies in emerging Europe will slow this year, the IMF said on Tuesday, warning that any escalation of the Ukraine crisis would weigh on the region. "Despite positive spillovers from advanced Europe, the recovery (in emerging Europe) is expected to weaken slightly in 2014," the International Monetary Fund said. The IMF revised down its 2014 growth forecast for the region to 2.4 percent from the 2.75 percent it estimated last October.

IMF: Spain needs to press on with reforms

Washington, Apr 8 (EFE).- The Spanish economy is recovering, but Madrid needs to move forward with its reform program, the International Monetary Fund said Tuesday. "What is most important now is to have the determination to press on with reforms," the head of the IMF's World Economic Outlook Division, Thomas Helbling, told Spanish journalists in Washington. "In the final analysis, Spain needs an internal devaluation" to make its economy more competitive in relation to its eurozone partners, he said.

IMF: Spain needs to press on with reforms

Washington, Apr 8 (EFE).- The Spanish economy is recovering, but Madrid needs to move forward with its reform program, the International Monetary Fund said Tuesday. "What is most important now is to have the determination to press on with reforms," the head of the IMF's World Economic Outlook Division, Thomas Helbling, told Spanish journalists in Washington. "In the final analysis, Spain needs an internal devaluation" to make its economy more competitive in relation to its eurozone partners, he said.

UK economy basks in manufacturing growth, IMF upgrade

By William Schomberg and Ana Nicolaci da Costa LONDON (Reuters) - Britain got a double boost on Tuesday as its recovery from recession gathered momentum and the International Monetary Fund raised the country's growth forecasts more than for any other major economy. Factories expanded production far more quickly than expected in February, UK statistics office data showed. Separate surveys showed a strong first quarter for companies and a long-awaited pick-up in wages.

Japan only major advanced economy to have IMF growth estimate cut

The International Monetary Fund on Tuesday cut its growth projection for Japan this year, singling out the country as the only major advanced economy to experience a downward revision, citing the fallout from the April 1 consumption tax hike. In its World Economic Outlook report, the Washington-based organization also pared down its global economic growth estimate for 2014 by 0.1 percentage point to 3.6 percent amid the instability in emerging market economies and deflationary risks in Europe.

Japan only major advanced economy to have IMF growth estimate cut

The International Monetary Fund on Tuesday cut its growth projection for Japan this year, singling out the country as the only major advanced economy to experience a downward revision, citing the fallout from the April 1 consumption tax hike. In its World Economic Outlook report, the Washington-based organization also pared down its global economic growth estimate for 2014 by 0.1 percentage point to 3.6 percent amid the instability in emerging market economies and deflationary risks in Europe.

Latin America stuck in slow gear

Depressed commodity prices and the challenge of tougher capital market conditions will keep economic growth across Latin America and the Caribbean in slow gear, the International Monetary Fund said Tuesday. Largely on the back of the slowdown in the region's economic power Brazil, the IMF cut its forecast for regional growth this year to 2.5 percent, picking up to just 3.0 in 2015. That put the region at the low end of growth for emerging and developing countries, the IMF said. In January it had predicted growth at 2.9 percent in 2014 and 3.3 percent in 2015.

Japan only major advanced economy to have IMF's growth estimate cut

The International Monetary Fund cut Japan's growth projection for this year on Tuesday singling out the country as the only major advanced economy to experience such a downward revision, citing the fallout from the April 1 consumption tax hike. In its World Economic Outlook report, the Washington-based organization also pared down the global economic growth estimate for 2014 by 0.1 percentage point to 3.6 percent amid the instability in emerging market economies and deflationary risks in Europe.

Brazil economic growth slow in 2014

Brazilian growth will continue at a slow pace in 2014 despite it playing host to the World Cup, mainly because of infrastructure problems, the IMF said in its quarterly report Tuesday. The international lender lowered its annual growth forecast to 1.8 percent, compared to 2.3 percent in January. Growth will be slower than once expected because of weak infrastructure and low private investment reflecting a lack of confidence in industry, the International Monetary Fund said.

IMF cuts world growth outlook amid Ukraine worries

The International Monetary Fund cut its growth forecast for the global economy Tuesday, pointing to the threat from the Ukraine crisis and the slowdown in major emerging economies. The IMF said the world's two largest economies, the United States and China, continue to anchor expected growth of 3.6 percent this year and 3.9 percent in 2015. pmh/vs
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