IMF Warns Of New
Global Economic Downturn
The
International Monetary Fund, IMF has warned that the global
economy could experience another downturn.
The head of IMF, Mr. Dominique Strauss-Kahn said countries
should not exit from stimulus packages that have bolstered
growth through huge amounts of government spending, because a
so-called double dip recession is imminent.
’’We have to be very cautious because this recovery remains very
fragile,’’ he said.
He said that China and Asian economies are leading the recovery.
Mr Strauss-Kahn said that tackling high levels of government
debt will be a priority for many governments.
He suggested that the IMF would raise its growth forecasts for
this year.
The IMF is currently predicting the global economy will grow by
3.1% in 2010.
BBC/Yinka
