EconWatch.com > IMF sees global economy gaining, US growth slowing - KansasCity.com

[Kansas City Star: Business] The IMF's forecast for worldwide growth this year is 0.2 percentage point more than its previous estimate in July.</p><p>The international lending agency predicts the U.S. economy will grow 2.6 percent this year, below its previous estimate of 3.3 percent, and 2.3 percent next year.</p><p>The IMF's forecast, released Wednesday, points to lingering weakness in the United States and Europe after the worst recession since the Great Depression.</p><p>The agency says the global economy will require a balancing act: Countries with huge trade and budget deficits such as the United States will need to boost exports. And countries with big trade surpluses such as China must reduce their dependency on exports and boost domestic demand.</p><p>A major factor dampening U.S. exports is that China and other emerging nations have been manipulating their currencies to gain trade advantages.</p><p>Treasury Secretary Timothy Geithner on Wednesday stepped up pressure on China to make more progress in moving toward flexible exchange rates.

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[KTNV - KTNV Local News Headlines] IMF sees global economy gaining, US growth slowing - KTNV ABC ...: Treasury Secretary Timothy Geithner on Wednesday stepped up pressure on China to make more progress in moving toward flexible exchange rates. Geithner said it is particularly important to see appreciation in countries where the currency is significantly undervalued.

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