• Sees 2012 growth at 4.5%
  • Revises 2011 growth for advanced economies to 2.5% from 2.2% in October
  • Forecast 2011, 2012 growth in emerging and developing countries at 6.5%
  • IMF revision of 2011 global forecast due to stronger than expected H2 2010 growth, U.S. tax cuts
  • Revises up 2011 U.S. growth to 3.0% vs October forecast of 2.3%, sees 2012 at 2.7%
  • Monetary accomodation needs to continue in advanced economies
  • Baseline oil price projection in 2011 is $90/ bbl, up from October forecast of $79/bbl
  • Maintains euro area growth forecasts for 2011 at 1.5%, rising to 1.7% in 2012
  • Urgent measures needed to overcome sovereign, financial troubles in euro area
  • Policies needed in emerging markets to prevent overheating, facilitate global economic rebalancing
  • Effective size of European Stability Fund should be increased, have a more flexible mandate
  • Global financial stability still not assured
  • Balance sheet restructuring incomplete globally, leverage is still high
  • Essential in some European countries that bank funding is sufficient, goes beyond national backstops
  • Credible stress testing in EU banks needed with time-bound plans for recapitalisation and restructuring
  • Emerging markets need to watch diligently for signs of sset price bubbles, excessive debt