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IMF raises global growth forecast

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The International Monetary Fund (IMF) said Tuesday that the global economic recovery is strengthening as countries move away from austerity budgets and their banking systems are fortified. 

The IMF's chief economist, Olivier Blanchard, attends the Institute of International Finance (IIF) Spring membership meeting in Paris on June 25, 2013

But the Fund remained cautious, saying the rebound in advanced economies is uneven and that they still face the threat of deflation.

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