FRANKFURT, Oct 10 (AFP): The International Monetary Fund (IMF) has lowered its 2008 global growth forecast to 4.8 per cent from a previous estimate of 5.2 per cent, German sources told the news agency yesterday.
The IMF slashed its estimate for US economic growth next year to 1.9 per cent from the previous forecast of 2.8 per cent, the sources added.
Previous estimates had been made before the international banking system was rocked by turmoil stemming from the collapse of the US market for high-risk home loans, also known as the subprime market.
Official IMF forecasts are to be published next week, and the sources said most regions would be affected by the international financial crisis.
IMF lowers 2008 global growth forecast to 4.8pc
FE Team | Published: October 11, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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