[word="half-yearly"] | □ □
[word="half-yearly"] | [□] □
[word="half-yearly"] | □? □
" The global economy is on course for its best four-year performance since the early 1970s after battling through strong headwinds during 2006 , the International Monetary Fund said today.In its half-yearly world economic outlook , the IMF said the rapid expansion of China and India would help the world economy to grow by 5.1 % this year and 4.8 % in 2007 - a stronger performance than it had been predicting in April.It warned , however , that there were downside risks to its forecasts - including a crash in the US housing market , the possibility that rising inflation would prompt central banks to raise interest rates and that financial markets would take fright at the lopsided nature of the global economy . The International Monetary Fund issues a stark warning today that Britain 's over-valued housing market is vulnerable to further increases in interest rates.In its half-yearly health check on the global economy , the fund highlights the UK as one of a handful of countries where house prices are expensive.The IMF 's World Economic Outlook says borrowing costs may have to rise again following last month 's increase to 4.75 % , and that tighter policy from the Bank of England poses a risk to the property market .