The global financial crisis may still deal heavy blows to expanding countries, but the swift actions of central banks in developed countries suggest that “things are not so bad,” said IMF Managing Director Dominique Strauss-Kahn on Sunday.
The head of the IMF, addressing reporters at the conclusion of a two-day meeting of G20 finance ministers and central bank governors, stated that discussions were dominated by a significant decline in global growth."For the first time since World War II, we have a negative growth forecast in advanced economies", he revealed. He emphasized that the expanding market faces the danger of a capital shortage, noting that the inflow of capital to these countries "is drying up." "The outlook is quite bleak," he added. (Hina)
