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Showing posts from October 9, 2012

The IMF cuts global outlook, warns of further slump — RT

The IMF cuts global outlook, warns of further slumpInternational Monetary Fund (IMF) economic counsellor and director of the research department Olivier Blanchard (C) announces the world economic outlook at a press conference in Tokyo on October 9, 2012. (AFP Photo / Yoshikazu Tsuno)The International Monetary Fund cut its global growth forecasts for the second time since April and warned of a further slowdown unless the US and European authorities make steps to fix their economic problems.The world economy is expected to grow 3.3% this year, the slowest since 2009, and 3.6% next year, compared to the July forecast of 3.5% in 2012 and 3.9% in 2013, the IMF said in its World Economic Outlook released today. It also stressed the global growth has a one-in-six chance to slip below 2% as the recession worsens."A key issue is whether the global economy is just hitting another bout of turbulence in what was always expected to be a slow and bumpy recovery or whether the current slowdown …