'World economy may stagnate in 2009: IMF Chief

Posted By: Staff
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Washington, Feb 19: Dominique Strauss-Kahn, the International Monetary Fund (IMF) chief said that IMF will be forced to lower its world growth forecasts yet again as the global economy is likely to appear stagnate in 2009.

"This situation is quite clear. 2009 is already largely determined and it will be a very bad year," Kahn said in an interview published in Leas Echos newspaper on Thursday, Feb 19. It was only in Jan the IMF slashed its 2009 forecast to 0.5 pc after the grim assessment of the World economy. This is the weakest since World War Two, from a Nov estimate of 2.2 pc.

The IMF chief said the final figure could even reach zero.

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