JOHANNESBURG: Europe should strengthen its financial rescue fund to reduce the risk of renewed global instability as US tax cuts and emerging economies help propel recovery elsewhere, the International Monetary Fund (IMF) said yesterday.
In an updated World Economic Outlook, the IMF said the global economy would likely expand 4.4% this year, a touch higher than the 4.2% forecast in October. It expects growth of 4.5% in 2012.
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