IMF says global recovery still on track

The global economy is still on the recovery trail but threats to growth remain, the International Monetary Fund (IMF) has said.

Rising oil prices, unrest in the Middle East, continued inflation in China and debt problems in Europe are among the challenges casting a shadow the IMF said.

It forecast that the global economy should grow by 4.4 per cent in 2011, the same estimate it issued in January.

"The recovery has solidified, but unemployment remains high," the IMF added.