'World economy may stagnate in 2009: IMF Chief

Thursday, February 19, 2009, 17:43 [IST]

Washington, Feb 19: Dominique Strauss-Kahn, the International Monetary Fund (IMF) chief said that IMF will be forced to lower its world growth forecasts yet again as the global economy is likely to appear stagnate in 2009.

"This situation is quite clear. 2009 is already largely determined and it will be a very bad year," Kahn said in an interview published in Leas Echos newspaper on Thursday, Feb 19. It was only in Jan the IMF slashed its 2009 forecast to 0.5 pc after the grim assessment of the World economy. This is the weakest since World War Two, from a Nov estimate of 2.2 pc.

The IMF chief said the final figure could even reach zero.

OneIndia News

Topics: imf, dominique strausskahn, global economic crisis, washington, world war ii

Other articles published on February 19, 2009

IMF board agrees on process to select new head

Friday, July 13, 2007,6:35 [IST]

Washington, July 13: The International Monetary Fund board agreed on a process to select the next head of the institution, welcoming nominations from all of the fund's member nations and not just Europe, which under a long-standing custom has always filled the post. ''The nomination period will commence immediately and will close on August 31, 2007,'' the board said in a statement yesterday, saying the successful candidate must have a record in economic.....

US, Brazil agree on urgency of trade pact

Thursday, July 12, 2007,10:55 [IST]

Brasilia, July 12: US Treasury Secretary Henry Paulson has said that the United States and Brazil agree it is urgent to press for passage of a Doha free-trade pact to benefit both countries' economies.''Doha is too important to not get done,'' Paulson told reporters after a day of talks with top officials, including Brazilian President Luis Inacio Lula da Silva.''I don't think anyone thinks it's going to be easy,'' he said yesterday, emphasizing that he had not brought.....

Limitless Updates

Business News

News Archives

Sports: IMF opens branch in Leh

Tuesday, July 10, 2007,9:35 [IST]

Leh, July 10 : In an effort to boost tourism in the area, Indian Mountaineering Foundation (IMF) opened its first branch office here earlier this week. The office was inaugurated by Air Vice Marshall P C S Rautela on Saturday in the presence of CEO Leh Development Authority cum Deputy Director Tourism. The branch office will function under the legendary mountaineer Sonam Wangyal and it will issue clearance on behalf of the government.....