The world economy is not expected to grow significantly, according to the International Monetary Fund (IMF).
In its latest World Economic Forecast, the IMF projects global growth to reach 3.3 per cent this year.
The twin fears over the future of the Euro zone and what has been described as “the fiscal cliff” in the United States continue to put pressure on global growth.
Confidence is further hit by a loss of momentum in key emerging and developing economies, the IMF report adds.
The IMF’s Jennifer Beckman discussed the report with the IMF’s Chief economist Olivier Blanchard who begins by explaining what is holding back the recovery.