WASHINGTON: Higher oil prices are not expected to harm the global economy, the International Monetary Fund's (IMF) new managing director Rodrigo Rato said.
According to Rato, there is no chance the IMF would cut its forecast for 2004 global growth from its current estimate of 4.6%, despite the fact that oil prices are US$5 above the average used by the fund's economists to project the growth rate for this year.
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