Global growth is set to recover

Main OECD economies: macroeconomic projections

Growth will differ markedly across the BRICs

Many currencies have depreciated against the US dollar

Divergence in monetary policy stances has increased

Financial conditions and corporate debt flows have been diverging

Net exports are projected to contribute negatively to growth in the United States in contrast with other areas

Foreign currency borrowing has increased in several EMEs

Net foreign asset valuation effects from a 10% US dollar appreciation

Commodity prices have fallen