Background
The International Monetary Fund's (IMF's) World Economic Outlook (WEO) publication released in April, 2010 highlights that the world economy is recovering though at varying degrees in different parts of the globe. In advanced economies, the recovery is slow, reflecting the substantial damage to their financial sectors, subdued household budgets and hefty lay-offs of workers. However, in emerging as well as developing economies, the output growth is strong owing to strong internal demand and recovery of global trade. There are also challenges faced by both advanced, emerging as well as developing countries resulting from policy interventions undertaken to avert the downturn. These challenges need global coordination of policies to keep the recovery intact. This article highlights the recent global economic developments, looking at the challenges that arose as a result of policy interventions against the global financial crisis across the globe. It will also highlight the implications of these developments for the economy of Lesotho download
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