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International Monetary Fund's Financial Counsellor and Director of the Monetary and Capital Markets Department, José Viñals (R) and Deputy Director of the Research Department, Chris Walker (L) talk to the media after they held their joint press conference on the World Economic Outlook January 24, 2012 at the IMF Headquarters in Washington, DC. IMF Staff Photograph/Stephen Jaffe

International Monetary Fund's Economic Counsellor and Director of the Research Department, Olivier Blanchard talks to the media after a joint press conference on the World Economic Outlook January 24, 2012 at the IMF Headquarters in Washington, DC. IMF Staff Photograph/Stephen Jaffe

International Monetary Fund's Financial Counsellor and Director of the Monetary and Capital Markets Department, José Viñals (front) and Economic Counsellor and Director of the Research Department, Olivier Blanchard (rear) talk to the media after their joint press conference on the World Economic Outlook January 24, 2012 at the IMF Headquarters in Washington, DC. IMF Staff Photograph/Stephen Jaffe

International Monetary Fund's Financial Counsellor and Director of the Monetary and Capital Markets Department, José Viñals (L) and Economic Counsellor and Director of the Research Department, Olivier Blanchard (R) speaks after their joint press conference on the World Economic Outlook January 24, 2012 at the IMF Headquarters in Washington, DC. IMF Staff Photograph/Stephen Jaffe

International Monetary Fund's Deputy Director of the Research Department, Chris Walker speaks at a press conference on the World Economic Outlook January 24, 2012 at the IMF Headquarters in Washington, DC. IMF Staff Photograph/Stephen Jaffe