IMF chief says global outlook dims, to cut forecasts

The global economic outlook is worsening and the risk of contagion from a financial markets crisis that began in the United States is now very high, IMF chief Dominique Strauss-Kahn said on Monday.

At a news conference in Paris, he welcomed the overnight steps taken by the U.S. central bank and said the International Monetary Fund would be cutting its growth forecasts again soon.

He also said the European Central Bank and the U.S. Federal Reserve were managing the market liquidity troubles very well, and that the situation in currency markets, while tricky, did not in his view call for central bank intervention.

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- Posted: 2008-03-17 09:43:04

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