The International Monetary Fund released on Monday the new projections for growth in the United States economy, where the IMF expects the U.S. economy to expand by 2.8 percent in 2011 and 2.9 percent in 2012, compared with their earlier projections in January of 3 percent in 2011 and 2.7 percent in 2012.

The IMF also signaled that the U.S. needs to maintain an accommodative monetary policy, in addition to measures that will help control the fiscal budget, where the IMF expects the budget deficit to reach 10.75% of GDP.

Meanwhile, the IMF expects the Canadian economy to expand by 2.8% in 2011 and 2.6% in 2012, compared with January's forecasts of 2.9% in 2011 and 2.3% in 2012, while the IMF signaled the rising value of the Canadian dollar as a possible threat to economic growth.