The prospects for a "steady and strengthening" global recovery have improved but risks remain in many countries, according to the IMF. In a statement following its weekend meeting in Dubai, the Fund said it welcomed the "increasing signs that economic activity is strengthening in many economies and the improved prospects for a steady and strengthening global recovery going forward". "Nevertheless risks remain in many countries and it is important that policy-makers stand ready to take the necessary actions," the IMF added. It also that all countries are interested in seeing more balanced growth from the current divergent rates of activity, as well as an orderly adjustment process.
"Sustained and vigorous structural reforms in many areas, and domestic sources of growth, are important in this respect," it said. The comments come after the IMF said last week in its World Economic Outlook that the global economic outlook has brightened but warned the recovery was exposed to serious risks. ///www.fxcentre.com