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10-08-2008, 11:52 AM
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Need a good session of people-watching
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Join Date: Mar 2008
25,830 posts, read 6,757,839 times
Reputation: 4182
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IMF sees major economic downturn ahead; recommends stabilize financials and set fiscal policy
IMF sees major global economic downturn - MarketWatch The financial shock has put monetary-policy makers "between a rock and a hard place," the IMF said, needing to work on two fronts: stabilizing the financial sector and using monetary and fiscal policies to support growth.
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The forecast for global economic growth next year has been marked down to 3% in the latest forecast, with "the major advanced economies already in or near a recession," the fund said. "The pickup is likely to be unusually gradual, held back by the continuing financial market deleveraging."
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Inflation should recede quickly, the IMF forecasters said, provided crude-oil prices do not revisit this summer's highs.
So it may be possible to manage this thing yet.
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