IMF: Economic Recovery Takes Hold

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IMF Chief, Christine Legarde

The head of the International Monetary Fund says that a long-awaited global recovery is taking hold and that three quarters of the world is enjoying an economic upswing the broadest acceleration this decade.

In remarks prepared for delivery Thursday at Harvard University, IMF Managing Director Christine Lagarde suggests that the 189-country finance agency will likely upgrade its outlook for global growth when it releases its latest forecasts next week.

In July, the IMF predicted that global growth would hit 3.6 percent in 2018, the fastest since 2011 and a welcome sign the world economy had broken out of a period of stagnation. Helping considerably: Commodity prices have rebounded after plummeting in 2014 and 2015, pinching growth in many developing countries.