IMF: Revival will be quick

THE UK&rsquo;s journey out of recession will be quicker than previously thought, the International Monetary Fund (IMF) said yesterday.<br /><br />The international body revised its initial prediction of 0.2 per cent growth in 2010 to 0.9 per cent and also lifted forecasts for other economies, citing the effect of global stimulus measures, the return of consumer confidence and steadying house prices.<br /><br />The organisation warned that &ldquo;premature exit from supportive policies must be avoided&rdquo; but said countries should being preparing their exit strategies.<br /><br />Global GDP is predicted to rise by three per cent, compared with a one per cent fall this year, helped by Asia&rsquo;s continuing growth.<br /><br />The IMF predicted a strong rebound for the US, which it said would enjoy 1.3 per cent growth, well ahead of its forecast of 0.3 per cent for the eurozone.<br /><br />The likelihood of a global depression had been &ldquo;all but eliminated&rdquo;, IMF chief economist Olivier Blanchard said, at the IMF and World Bank annual meeting in Turkey.<br /><br />The meeting was thrown into chaos when a Turkish protester threw a shoe at IMF boss Dominique Strauss-Kahn.