IMF scales back prediction for global growth

The International Monetary Fund has lowered its forecast for 2013 growth of the world economy by 0.2 percentage point, to 3.1%, the same rate of expansion experienced last year. The U.S. economy is expected to expand by 1.7%, the IMF says. Chief Economist Olivier Blanchard says emerging markets are entering a slowdown. The IMF has downgraded forecasts for emerging economies including Brazil, Russia, India, China and South Africa.

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