The global economy is expanding again, and financial conditions have improved markedly. It will still take some time, however, until the outlook for employment improves significantly.rnEmerging and developing economies are further ahead on the road to recovery, led by a resurgence in Asia-in general, emerging economies have withstood the financial turmoil much better than expected based on past experience, which reflects improved policy frameworks. However, gains in activity are now being seen more broadly, including in the major advanced economies. Financial market sentiment and risk appetite have rebounded, banks have raised capital and wholesale funding markets have reopened, and emerging market risks have eased.
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