engine - 4:45 pm on Aug 18, 2009 (gmt 0)

IMF: The World Is "starting to pull out of recession" [news.bbc.co.uk]

The world has begun to recover from recession but the process will not be simple, the International Monetary Fund (IMF) has warned. The recession had "left deep scars, which will affect both supply and demand for many years to come" said IMF chief economist, Olivier Blanchard. His comments came after Japan this week followed France and Germany is seeing their economies return to growth. In this latest report, Mr Blanchard predicted that global output may also remain lower than it had been before the crisis. Countries must rebalance their economies to make it sustainable, Mr Blanchard said.