Oil-Price Risk Threatens Stronger Global Recovery, IMF Says
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The threat of further oil-price increases has become a “key downside risk” for global growth, compounding the difficulties posed by overheating in emerging economies and persistent unemployment in developed nations, the International Monetary Fund said.
The recovery is “stronger,” and the world economy will expand 4.4 percent this year and 4.5 percent in 2012, the Washington-based IMF said in its World Economic Outlook report, leaving forecasts from January unchanged. Oil will rise 36 percent in 2011 to $107.16 a barrel, based on the average prices of U.K. Brent, Dubai and West Texas Intermediate crudes, it said.