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Increasingly hopeful signs indicate that a sustainable economic recovery has begun, led by vibrant activity in emerging and developing economies. Our latest World Economic Outlook (WEO) projections point to global growth of around 4 percent this year, and a somewhat faster pace in 2011, John Lipsky, First Deputy Managing Director, International Monetary Fund (IMF) said, according to foreign media reports.

According to the IMF official, Asian developing economies will grow at a pace two times faster as compared to the global economy with China and India being the growth locomotives. He forecasts economic growth of 8,5 percent for 2010 for the region’s emerging and developing economies.

“Much of the force of the economic growth rebound has come from Asia, where the recovery has occurred earlier and with more force than elsewhere. Prompt action by this continent’s policymakers, including the rapid rollout of large and credible fiscal stimulus, has propelled the region's recovery and contributed to the global turnaround,” Mr. Lipsky highlighted.