WASHINGTON (AP) The International Monetary Fund says the dynamics of global growth are shifting with the major economies strengthening while developing countries slow.
The international lending agency released the assessment on Wednesday in advance of the Group of 20 summit of the world's largest economies in Russia on Sept. 5-6.
The IMF predicts the U.S. will be the main driver of global growth in the near term.
At the same time, developing economies have been hardest hit by the U.S. Federal Reserve's warning that it will soon begin to ease off of its massive bond-buying program to stimulate the economy. This hit to emerging economies raises risks for a "prolonged period of sluggish global growth," the IMF said.
