The world''s economies could show signs of recovering earlier than projected and the upward trend could happen in the first half of 2010 , although growth would be staggered between various countries and it would be initially weak, International Monetary Fund (IMF) Chief Dominique StraussـKahn said Monday.
Speaking on "France Info" radio, StraussـKahn was cautiously optimistic about the trend in global economic activity, although he warned that vital reforms of the financial sector should be speeded up.
"We are seeing the end of the tunnel," the IMF Director indicated. However, he said the better if tepid growth figures would not affect rising unemployment as there is "a time lag" between activity and jobs. It will thus take some time for the weak growth to have an impact on the worryingly high levels of jobless.
Additionally, the IMF which has emerged as a much more powerful body with a boosted budget after the crisis, is calling on members "to accelerate reform for financial regulation" which is considered lacking. The problems with unregulated markets and exaggerated incentives for market operators are given as largely responsible for the greed, rash behavior and total disrespect for financial basics that led us to the crisis that began one year ago.

Alwatan Daily