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IMF chief says recovery has begun

Economic recovery has begun, according to the International Monetary Fund’s chief economist. But he says it is likely to be slow and unpredictable.

Today’s Daily Telegraph quotes a report by Oliver Blanchard, to be published today, where he says: “The recovery has started. Sustaining it will require delicate rebalancing both within and across countries.

“The world is not in a run-of-the-mill recession. The turnaround will not be simple. The crisis has left deep scars, which will affect both supply nad demand for many years to come.”

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