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WARSAW: The worst of the global recession is over and the risk of a "double-dip" recession has faded, the head of the International Monetary Fund (IMF) Dominique Strauss-Kahn was quoted as saying on Wednesday.
"The worst of the recession is over, but a gradual recovery lies ahead," Strauss-Kahn, the IMF's managing director, was quoted as saying in an interview with Poland's Polityka weekly.
"Our baseline forecast does not envisage a double-dip recession. The global economy will continue picking up steam in the remainder of this year and in 2010," Strauss-Kahn said.
He also discounted the risk of hyperinflation.
"I do not see hyperinflation as a risk. In fact, we expect global inflation to remain subdued through 2010, reflecting the modest pace of recovery."
Strauss-Kahn pointed to Asia as the most advanced region on the road to recovery, but there was also improvement in the United States and Europe.
The recovery is fragile, however, with private consumption still weak and unemployment forecast to grow, he said. - AFP/de
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