As advanced economies grow, emerging ones struggle: OECD

PARIS: The Organisation for Economic Cooperation and Development says that advanced economies are staging a comeback but a slowdown in emerging countries will keep global growth low this year.


The report issued Tuesday was more upbeat than the organisation's assessments have been in recent years, as debt and financial crises in Europe and the US hammered growth.

But the organisation, which represents many of the world's most advanced economies, called for central banks, particularly in the United States, to keep up their loose monetary policies, saying that a sharp pullback could sink the budding recovery.

It predicted that the three biggest euro economies -- Germany, France and Italy -- would grow by an average of 0.4 per cent this year. It said growth in the US would be around 1.7 per cent.