Report: World Growth Grinds Almost To a Halt, IMF Urges Decisive Global Policy Respons

by Sabrina I. Pacifici on January 28, 2009

News release: “World growth is forecast to fall to its lowest level since World War II, with financial markets remaining under stress and the global economy taking a sharp turn for the worse, sending both global output and trade plummeting, the IMF said in its latest assessment of the world economy. “We now expect the global economy to come to a virtual halt,” said IMF Chief Economist Olivier Blanchard in prepared remarks for a press briefing. World growth is projected to fall to just ½ percent in 2009, its lowest rate in 60 years, the IMF said in an Update to its World Economic Outlook, released on January 28 together with an update to its Global Financial Stability Report.”

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