World economy recovering faster than expected

ISTANBUL, Turkey -- The world economy is recovering from recession faster than expected thanks to government stimulus packages, new forecasts from the International Monetary Fund show.

In its latest estimates for the world economy, the fund says the global economy is poised to grow by 3.1 percent in 2010, up on the 2.5 percent predicted in July. The United States, the world's biggest economy, is expected to grow by 1.5 percent.

The international organization says stimulus packages around the world have helped support demand and reduced risks in the financial markets. However, recovery is expected to be slow and risks to the outlook remain to the downside.

-- The Associated Press