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IMF cuts global growth forecast

The global recovery is likely to gather momentum this year and next, but at a slightly slower pace than seemed likely three months ago, the International Monetary Fund predicted on Wednesday.

Without any signs of an end to the world “two-speed” economy with emerging economies powering ahead while high-income countries languish in the slow lane, the fund called for action to boost confidence and growth in advanced countries.

The IMF’s assessment broadly matches the consensus of economists attending the World Economic Forum who are more positive in 2013 than at any point since the crisis started five years ago.

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