Risk USA: IMF unveils dire global economic outlook for 2009

Speaking at Risk USA in New York on October 28, Antonio Garcia Pascual, financial economist in the monetary and capital market department at the IMF, revealed that international economic output will be dragged down primarily by western economies. The IMF predicts Europe will see pitiful growth of just 0.5% while the US economy will remain stagnant.

Elsewhere, Japan will weather the storm better than most and is expected to see growth of 2%. Emerging markets are also forecasted to see stronger

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