IMF to cut global forecast, sees 2010 recovery
Tuesday, 21 April 2009
BERLIN, Apr 20 (Reuters): The International Monetary Fund's (IMF's) Managing Director Dominique Strauss-Kahn was quoted on Sunday as saying the IMF would cut its global economic forecasts in the coming week and that he expected a recovery to start in the first half of next year.
"The forecast that we will present this week will be worse than the previous one," Strauss-Kahn told Germany's Handelsblatt business daily in an interview to be published on Monday.
In its most recent forecast, the IMF said the world economy would shrink in 2009 by between 0.5 percent and 1.0 percent, the largest contraction since the Great Depression.
The IMF's World Economic Outlook is to be released in full on Wednesday.
Strauss-Kahn also said there were some positive signals for the global economy but that a recovery was not expected yet.
"The forecast that we will present this week will be worse than the previous one," Strauss-Kahn told Germany's Handelsblatt business daily in an interview to be published on Monday.
In its most recent forecast, the IMF said the world economy would shrink in 2009 by between 0.5 percent and 1.0 percent, the largest contraction since the Great Depression.
The IMF's World Economic Outlook is to be released in full on Wednesday.
Strauss-Kahn also said there were some positive signals for the global economy but that a recovery was not expected yet.