The IMF releases its latest world economic forecasts – Libya good in short term, but needs reform in long term.

The IMF World Economic Outlook 2013 Report (WEO) released here today in Washington DC at the IMF headquarters reveals that the world economy has moved to a "three-speed recovery".

The IMF reports that there is strong recovery in emerging markets and developing countries but weaker recovery in advanced economies. In emerging markets and developing countries, growth is predicted to reach 5.3 percent in 2013 and 5.7 percent in 2014.

In the advanced economies, there is a split, with the US forecast to grow at 2 percent in 2013 and 3 percent in 2014, whilst the Euro area . . .

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