IMF says to revise up 2010 global growth forecast

SAO PAULO Tue Sep 29, 2009 12:20am IST

The IMF nameplate is displayed on a wall at the headquarters during the World Bank/International Monetary Fund Spring Meetings in Washington in this April 11, 2008 file photo.  REUTERS/Jonathan Ernst/Files

The IMF nameplate is displayed on a wall at the headquarters during the World Bank/International Monetary Fund Spring Meetings in Washington in this April 11, 2008 file photo.

Credit: Reuters/Jonathan Ernst/Files

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SAO PAULO (Reuters) - The International Monetary Fund will increase its forecast for global growth next year in the next few days to account for a faster recovery in major economies, its deputy director said on Monday.

The IMF will raise its forecast for 2010 global growth to about 3 percent from 2.5 percent, said Murilo Portugal, the fund's deputy managing director. The revised forecast could come as soon as Tuesday.

"The recovery is stronger than initially forecast," Portugal, a former deputy finance minister in Brazil, told journalists on the sidelines of a business seminar.

Brazil's economy, the largest in Latin America, should grow more than the global average, Portugal said without giving detailed forecasts.

Economists in a weekly central bank survey released on Monday increased their forecast for gross domestic product growth in Brazil to 4.5 percent in 2010 from 4.2 percent a week earlier.

(Reporting by Roberto Samora, Writing by Elzio Barreto; Editing by Kenneth Barry)

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