RTTNews - The global economy will start recovering next year, but the pace would be more gradual than it was in past recessions, the International Monetary Fund's first deputy managing director, John Lipsky said Monday.

Our world economic outlook anticipates a return to global expansion by next year, Lipsky said in Tokyo. However, the recovery is likely to be more gradual than in past recessions.

It is clear that the current crisis -- that is coming to be known as the Great Recession -- is far from over, Lipsky said. He noted that the prospects for a broad recovery in Asia will depend on the speed of the global economic turnaround.

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