IMF raises global economic growth forecast

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The International Monetary Fund (IMF) has raised its forecast for global economic growth this year, from 4.2% to 4.6%.

It said the world economy grew strongly in the first part of this year, mainly thanks to robust growth in Asia.

But, the IMF is warning the debt crisis in Europe could undermine growth.

It says European governments struggling with massive national debt could create financial instability by applying austerity measures too fast.

Andrew Walker reports.

READ MORE: IMF raises global growth estimate

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