IMF lifts growth forecast for the world economy

Positive trend: Gourinchas at a World Economic Outlook news conference in Washington. The IMF cites strength in the United States and some emerging markets for its upward revision of the global economy. — Bloomberg

NEW YORK: The International Monetary Fund (IMF) inched up its expectations for global economic growth this year, citing strength in the United States and some emerging markets, while warning the outlook remains cautious amid persistent inflation and geopolitical risks.

Global economic activity will expand 3.2% this year, it said in its “World Economic Outlook”, up 0.1 percentage point from its January estimate.