IMF says global recovery at risk |
| AFP - Jun 17, 2011 |
There is danger the fragile global recovery could collapse unless Europe averts sovereign defaults, the United States gets its fiscal house in order and emerging economies prevent overheating, the IMF warned Friday.
"There are very clear risks to the recovery," the International Monetary Fund's research director, Olivier Blanchard, said in Sao Paulo as he presented the Fund's latest report on the world economic outlook.
The IMF lowered its 2011 growth forecast a notch, projecting an annual rate of 4.3 percent, a tenth of a point lower than it had forecasted two months ago.
In the report, the Washington-based lender noted that "activity is slowing down temporarily" and negative growth headwinds were rising.
"Greater-than-anticipated weakness in US activity and renewed financial volatility from concerns about the depth of fiscal challenges in the euro area periphery pose greater downside risks," it said, updating its April economic, financial and budgetary reports.
Read Full Article from AFP
- Posted: 2011-06-17 11:23:51
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