IMF Cuts World Growth Forecast, Warns of Market Risks |
| Bloomberg - Oct 17, 2007 |
The International Monetary Fund cut its forecast for global growth next year and warned that even its new prediction may be too optimistic given threats posed by the sell-off in credit markets.
The IMF lowered its projection for the global expansion next year to 4.8 percent in its semiannual World Economic Outlook, from an estimate of 5.2 percent in July. A weaker outlook for the U.S. was mostly to blame, as the fund reduced its forecast to 1.9 percent, from 2.8 percent.
``I would emphasize that there are serious risks ahead,'' Simon Johnson, the IMF's chief economist, said at a press conference in Washington. ``The smoke has not yet cleared'' from the financial-market turmoil, he said.
Read Full Article from Bloomberg
- Posted: 2007-10-17 10:16:31
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