IMF warns that global economy growing less than forecast

The global economy will grow more slowly than previously expected next year, the International Monetary Fund (IMF) has said.

It forecast GDP would increase rise by 4.2 per cent in 2011, down from an earlier estimate of 4.3 per cent.

The IMF warned that the global recovery was tentative.

Earlier in the week it said that the global financial system remained the weak link in the economic recovery.