International Monetary Fund (IMF) Slashed World Growth Forecast to 3.3 percent for the Year 2013.
International Monetary Fund (IMF) in its latest assessment of the global economy released on 16 April 2013 revised its world growth forecast for 2013 and slashed it to 3.3 percent from previous forecast of 3.5 percent predicted in January 2013.
IMF revised its forecast because of the continued recession in the Eurozone. The IMF also forecasted that the economic growth will be on its pick by the second half of the year. The slow growth rate of the United States region is also a region behind the downgrade of the forecast.