The IMF stated in their second yearly report today that Australia was leading the world in economic recovery. The report is on the world’s economy and they report twice a year as the world is trying to recover from one of the worst recessions in recent history. It is being called the Great Recession.

Meetings will be going on in Washington with Treasurer Swan attending the IMF and the G2O. The IMF is stating that the recovery is evolving better than expected. The world is starting to have a patchy recovery sometimes rapid in places.

Achieving growth and sustaining it will not easy. There will be challenges ahead for all of us. It will require work, fixing rate adjustments, consolidating monetary fiscals in advancing countries, and learning to balance demand across the globe.

The US is doing better than Japan and Europe currently in advance economies. It will be more sluggish as we catch up. But Australia is most definitely deserving of praise!

With Asian economies being industrialized, Australia is looking great and looks like it will be the leader of the pack. Australia’s growth is to around 3% this year. Next year these figures should rise to 3.5%. Strong demand especially in China for commodities will spur the growth of Australia.

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