Global economy expanding says IMF

The global economy is expanding again and financial conditions have improved significantly, the International Monetary Fund (IMF) has said.
But in its latest World Economic Outlook, the IMF said the "pace of recovery is expected to be slow".
It added that the recovery is likely to be "insufficient to decrease unemployment for quite some time".
On Wednesday, the IMF cut its forecast for the amount that banks are likely to lose in bad loans and investments.
The total it expects banks to lose between 2007 and 2010 is now $3.4tn (£2.1tn), down from its previous estimate of $4tn.
This reduction is a direct result of the improved outlook for the global economy.