December 11, 2012 / 11:51 AM / 5 years ago

World Bank's Kim hopeful on Europe, fiscal cliff

STOCKHOLM, Dec 11 (Reuters) - World Bank President Jim Yong Kim said on Tuesday he expected crisis-hit Europe to return to growth soon and the United States to forge a deficit reduction deal without damaging the economy.

Kim, visiting the region for meetings with Nordic and Baltic ministers, said Europe had taken important steps toward resolving its long-standing sovereign debt crisis.

“I think the progress that has been made is very real and I expect the reforms to continue and that we will get back to growth in the near future,” he told a news conference.

“I also think a lot of the fundamentals are in place in the United States. We remain hopeful that the discussions around the fiscal cliff will be resolved soon and not slow down the growth that we are already seeing.” Kim said he was “encouraged” by economic developments in Africa and Latin America.

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