Christine Lagarde

IMF hikes outlook for global growth for 2017 to 3.7 percent

The International Monetary Fund upgrading its outlook for the world economy, noting surprisingly strong growth in Europe and Asia and predicting that U.S. tax cuts will give the American economy a short-term boost.

The IMF on Monday forecast global growth of 3.7 percent for 2017, which would be the most substantial annual growth since 2011, and to 3.9 percent for this year and 2019.

"Global growth has been accelerating since 2016, and all signs point to a continuous strengthening of that growth," IMF managing director Christine Lagarde said in a press conference at the World Economic Forum's annual meeting in Davos, Switzerland. "This is very welcome...