In the mid-year health check of the world economy IMF cut its growth forecast of the global economy and of other nations. The emerging nations, only bright spot, also will suffer if policymakers in Europe do not act with enough force and speed to improve their economy. The sluggishness may spread to emerging nations as well.
They cut the growth forecast of the global economy for 2013 to 3.9 from 4.1 percent.
It revised its growth projections for India to 6.1 percent for the year 2012 from 6.9 percent, and cut its 2013 forecast to 6.5 percent from 7.3 percent.
