IMF raises global growth forecast over broad-based recovery

No complacency despite improving global financial stability

It stresses that even though low-income countries have contributed very little to the enhanced greenhouse gas effect, they are the ones that will have to face the adverse consequences of rising temperatures, since they tend to be located in some of the hottest parts of the planet.

"This is no time for complacency".

"So for insuring that you have the ability to use those revenues for enhancing expenditure, there is a need to make sure that interest to revenue is kept at reasonable level".

On the rising debt profile, she said: "The concern in a number of oil exporters is that unless there is action now, debt which has been rising is a concern because of the interest payments".

"Helping low-income developing countries cope with the consequences of climate change is both a humanitarian imperative and sound global economic policy that helps offset countries' failure to fully internalise the costs of greenhouse gas emissions".

"Portfolio inflows to emerging markets economies are on track to reach $300 billion in 2017, more than twice the totals over the past two years".

This will enable them to take advantage of broader financial market development and access, while containing the associated risks, the IMF said.

According to the report, Sub-Saharan Africa, including Nigeria, grew by 2.4 per cent in 2017 from 1.3 per cent in 2016, slightly below the pace previously projected.

The report says: "Advanced and emerging market economies have contributed the lion's share to actual and projected climate change".

During the meeting high-ranking representatives of the IMF and the WB Group participating countries, other international financial institutions, the private sector and civil society will discuss the current state of the global economy, prevention of poverty and effectiveness of financial assistance, as well as challenges the global economy encounters.

The International Monetary Fund (IMF) has affirmed its April forecast for Kosovo's 2017 economic growth at 3.5%, according to the latest edition of the Fund's World Economic Outlook (WEO) report.

He also said the World Bank was assisting Nigeria in the aspect of domestic resource mobilisation, through the expansion of its revenue base and to improve efficiency in tax collection.

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