The head of the International Monetary Fund (IMF) said current risks to world economic growth are being absorbed without difficulty. "There are risks (to the world recovery), such as the rise in (interest) rates and in oil prices, but they are being absorbed in all countries with a much great capacity that we had five or 10 years ago," Rodrigo Rato told SER national radio station in an interview recorded on Thursday and aired on Friday. U.S. light crude oil prices are above $43 per barrel, just off recent all-time highs and up by over a third since the start of the year. U.S. light crude just stopped short of hitting $50 a barrel earlier this year -- the highest in the history of the New York exchange. The rise in oil prices has raised concerns about dampening growth and rising inflation. The U.S. Federal Reserve has already started raising rates after a long period of cheap money and is expected to do so again next week. "U.S. monetary expansion is reaching an end, and that is good because it shows that the U.S. economy does not need extraordinary driving forces," Rato said. "But what is not good is that monetary policy is not reflected in budgetary policy ... it would be important for budget policy to follow the same clear lines that U.S. monetary authorities follow," he added.||||www..com