IMF warns global economic slowdown deepens, prods U.S., Europe

A banner of the Annual Meetings of the International Monetary Fund and the World Bank Group is displayed at the Tokyo International Forum in Tokyo October 9, 2012. REUTERS/Toru Hanai

TOKYO (Reuters) - The IMF said the global economic slowdown is worsening as it cut its growth forecasts for the second time since April and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump.

Global growth in advanced economies is too weak to bring down unemployment and what little momentum exists is coming primarily from central banks, the International Monetary Fund said in its World Economic Outlook, released ahead of its twice-yearly meeting, which will be held in Tokyo later this week.