WASHINGTON: The International Monetary Fund (IMF) said yesterday the global economy is recovering faster than previously anticipated and will grow 3.9 percent this year and 4.3 percent next year. It also forecast the Chinese economy to expand 10 percent this year and 9.7 percent next year, much better than previous forecasts.

But the recovery is at different speeds around the world, with emerging markets relatively vigorous, but advanced economies remaining sluggish and still dependent on government stimulus measures, the IMF said in an update to its World Economic Outlook.

"For the moment, the recovery is very much based on policy decisions and policy actions," said IMF Chief Economist Olivier Blanchard.