IMF Managing Director Christine Lagarde speaks about the world financial situation and the upcoming 2015 IMF / World Bank Annual Meetings during a Council of the Americas event in Washington, DC, September 30, 2015. AFP PHOTO / SAUL LOEB
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The Tiger index – Tracking Indices for the Global Economic Recovery – shows how measures of real activity, financial markets and investor confidence compare with their historical averages in the global economy and within each country.Divergence is almost as important as a new trend highlighted in the index, however, with India emerging as a bright spot and commodity importers such as Brazil and Russia mired in recession.Because emerging economies are now much more important in the global economy and growth rates are still higher than their developed counterparts, global growth is still hovering around 3 per cent, close to its long-term average. Financial markets have begun to lose confidence in the ability of central banks to restore demand to the global economy, with equity markets in the third quarter posting the biggest losses for any equivalent period since the eurozone crisis of 2011 .
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