The International Monetary Fund (IMF) has raised its forecast of Brazilian economic growth for this year to 1.9 percent from 1.5 percent, and its forecast for next year to 2.1 percent from 2.0 percent.

In its latest World Economic Outlook Update, the IMF has also raises its forecasts of Chinese economic growth – for this year to 6.6 percent from 6.5 percent and for next year to 6.4 percent from 6.3 percent.

The IMF has increased its forecast of global growth for both this year and next year to 3.9 percent from 3.7 percent.