U.S. Markets

Global economic fundamentals strong despite market volatility: IMF

International Monetary Fund (IMF) logo is seen at the IMF headquarters building during the IMF/World Bank annual meetings in Washington, U.S., October 14, 2017. REUTERS/Yuri Gripas

WASHINGTON (Reuters) - Recent market volatility does not change the International Monetary Fund’s view that global economic fundamentals remain strong, and a market correction was probably inevitable given elevated asset prices, IMF chief spokesman Gerry Rice said on Thursday.

“Despite the volatility in recent days, we believe financial conditions remain supportive of economic growth. Financial markets continue to function in an orderly way,” Rice told a regular weekly IMF news briefing. “The global economic recovery we expect to continue.”

Reporting by David Lawder