WORLD ECONOMY FACING SLOWDOWN

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WORLD ECONOMY FACING SLOWDOWN

 user 2007-09-11 at 10:16:00 am Views: 45
  • #18725

    World economy ‘facing slowdown’
    Global
    economic growth is likely to be dampened by the turbulence which has
    swept world markets, the International Monetary Fund (IMF) has said.

    The
    IMF said it would be revising down its growth projections – with this
    year being more affected than 2008.The US would see the largest impact,
    with some parts of Europe also set to endure lower growth, it added.Its
    comments came a day after the OECD warned the US economy would slow
    sharply in the second half of 2007.The Organisation for Economic
    Co-operation and Development’s World Economic Outlook report is due for
    release in October.

    Potential vulnerability
    Uncertainty over
    the size of losses in the sub-prime lending market has caused stock
    market turmoil.An IMF spokesman said that the unrest came “after an
    exceptionally long period of benign conditions in international
    economic markets” and solid global growth, which had provided “a
    cushion against which we are working”.Most emerging economies remained
    “relatively robust”, the IMF added.However, it said that some countries
    which had a high dependency on external financing could be vulnerable
    to fallout on the financial markets.