World economy to add 3.6% in 2017 as recovery quickens: IMF

Global economic output should increase by 3.6 percent this year and by 3.7 percent in 2018, IMF said.

The International Monetary Fund on Tuesday bumped up its forecasts for global growth, saying an upswing in the world economy was likely to gather pace into next year.

A conference room is prepared at the International Monetary Funds' Headquarters 2 building ahead of the annual meetings in Washington, DC on October 9. (AFP Photo)

Global economic output should increase by 3.6 percent this year and by 3.7 percent in 2018, up marginally from the forecast published six months ago but well above growth seen in 2016, the IMF said.

But the global crisis lender called on governments to strike while the iron is hot, saying dangers for the current recovery lurked on the horizon and ambitious reforms were necessary.

The new forecast comes as the IMF stages annual meetings this week with the World Bank.