advanced economies, particularly in the United States, where the housing market correction continues to exacerbate financial … stress. The emerging and developing economies have so far been less affected by fi nancial market developments and have … time, headline infl ation has increased around the world, boosted by the continuing buoyancy of food and energy prices …

The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff … economists' analyses of global economic developments during the near and medium term. Chapters give an overview of the world … economy; consider issues affecting industrial countries, and economics in transition to market; and address topics of pressing …

oil. Additionally, analytical chapters explore the growth rate of potential output across advanced and emerging market …

almost 1⁄2 percentage point relative to the July 2007 World Economic Outlook Update. This would still leave global growth at … a solid 43⁄4 percent, supported by generally sound fundamentals and strong momentum in emerging market economies. Risks … to the outlook, however, are firmly on the downside, centered around the concern that financial market strains could …