The International Monetary Fund (IMF) has warned that global financial stability is still not assured, and that risks to economic recovery remain high, particularly for developing countries.
The IMF revised up its growth forecast from 4.2% to 4.4%, but warned of a two-speed recovery as advanced economies grow slower than emerging ones, the BBC reports.
It said Europe's economic health was weak, and said the size of the bank rescue fund should be increased.
Emerging countries, however, should see growth of 6.5% this year and a similar expansion in 2012, the IMF said.
In its World Economic Outlook, the IMF said US growth was projected to reach 3%, up from the previous estimate of 2.3% published in October.
The IMF estimates UK growth will be 2%, unchanged from its previous forecast.
And there was also no change in the 1.5% growth forecast for both the eurozone and for Japan.
The IMF said that while activity had moderated less than expected in advanced economies, growth remains subdued and unemployment high. Renewed stresses in the euro area periphery contributed to downside risks, it said.