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The global economy will start growing next year, according to John Lipsky, deputy director of the IMF.
"Our global outlook anticipates the global economy will begin growing again next year," Lipsky said in Tokyo, who added: "However, the recovery is likely to be more gradual and to occur slower than in the case of the previous recessions."
Lipsky also said that the current downturn, which will be known as the Great Recession, is far from over, and that a rebound in Asia will depend on how strong the global turnaround is.
Confidence in the global economy jumped to the highest level in 19 months, according to a survey by Bloomberg, on the back of statements by the head of the Federal Reserve Ben S. Bernanke and European Central Bank President Jean-Claude Trichet indicating that the recession may be letting up.
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