The International Monetary Fund (IMF) on Wednesday lowered its estimate of losses from the global financial and economic crisis to US$3.4 trillion, saying the global financial stability "has improved."

Global financial stability has improved following unprecedented policy actions and signs of economic recovery, but overall risks remain elevated, the IMF said in the Global Financial Stability Report (GFSR) released on Wednesday.

"Our estimate of global losses arising from the crisis now stands at roughly US$3.4 trillion, around US$600 billion lower than the last GFSR, largely due to rising securities values," the semi-annual report said.

The estimate covers the period from the beginning of the financial crisis in mid-2007 to 2010.

The Washington-based lender previously projected in April the total losses from the crisis at US$4.054 trillion, including US$2.712 trillion in losses in US- originated assets.

(Xinhua News Agency September 30, 2009)