IMF changes tune on dire global imbalance threat

(Reuters) - A year after warning that cash-rich countries like China and the oil exporters could dump dollars and destabilize the global economy, the International Monetary Fund has a much happier message -- "progress."

IMF economists were patting themselves on the back for raising the alarm last April and encouraging big lending countries and borrowers, such as the United States, to work together to address concerns about global imbalances.


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