IMF warns global recession in 2012 'can't be ruled out'
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IMF warns global recession in 2012 'can't be ruled out'
by ĽĭÓń ĤéĂѓŦ Fri Oct 07, 2011 5:53 pm
Updated at: 1431 PST, Wednesday, October 05, 2011
BRUSSELS: IMF Europe director Antonio Borges warned on Wednesday that a global recession in 2012 "can't be ruled out," citing a possibility that "activity will turn downwards."
The IMF issued its economic outlook for Europe in Brussels, at a time when the Greek-triggered sovereign debt crisis is mutating into a new banking crisis, and "therefore we recommend changing economic policy" away from austerity and back towards US and British-style stimulus, according to the 100-page report.
BRUSSELS: IMF Europe director Antonio Borges warned on Wednesday that a global recession in 2012 "can't be ruled out," citing a possibility that "activity will turn downwards."
The IMF issued its economic outlook for Europe in Brussels, at a time when the Greek-triggered sovereign debt crisis is mutating into a new banking crisis, and "therefore we recommend changing economic policy" away from austerity and back towards US and British-style stimulus, according to the 100-page report.
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