IMF ISSUES GLOOMY GLOBAL OUTLOOK

Oct 09, 2012

By Scott Walker

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More gloomy news on the state of the world’s economy this morning.

The International Monetary Fund says things are getting worse instead of better.

In its latest World Economic Outlook, the IMF forecasts the world economy will expand 3.3% this year. That’s down from the estimate of 3.5% it issued in July.

Its forecast for growth next year is 3.6%, down from 3.9%.

The IMF says global efforts to ease credit and increase the amount of money available for lending are helping.

But it says uncertainty is high, confidence is low, financial sectors are weak, and any significant fiscal achievements have been accompanied by disappointing growth or recessions.

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