IMF predicts energetic world economy for 2007-08

The global economy should turn in an energetic performance this year, even though its biggest player, the United States, is expected to experience its weakest growth in five years, according to a new International Monetary Fund (IMF) forecast.

"By and large things look very good," said Simon Johnson, the fund's top economist.

In its latest World Economic Outlook, released yesterday, the IMF is projecting the world economy to grow by 4.9 percent this year and next. While that would be a moderation from last year's 5.4 percent advance, it would still represent a remarkably healthy showing, analysts say.