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In its World Economic Outlook, the IMF told US and European decision makers to be proactive in fixing their respective financial woes as a matter of urgency or the slump will drag on much longer than expected.
The IMF Chief Economist Olivier Blanchard said:
“In advanced economies, growth is now too low to make a substantial dent in unemployment and in major emerging markets, growth which had been strong earlier has also decreased.”
The IMF’s latest health check on the world economy revises its global growth forecast down to 3.3 per cent.
2012-10-09 19:00:50
Source: http://roomanicast.blogspot.com/2012/10/imf-cuts-global-growth-forecasts.html