{"id":259328,"date":"2009-03-19T13:08:00","date_gmt":"2009-03-19T13:08:00","guid":{"rendered":"http:\/\/new.moldova.org\/2009\/03\/19\/imf-sees-global-economy-continuing-to-fall-190490-eng\/"},"modified":"2009-03-19T13:08:00","modified_gmt":"2009-03-19T13:08:00","slug":"imf-sees-global-economy-continuing-to-fall-190490-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/imf-sees-global-economy-continuing-to-fall-190490-eng\/","title":{"rendered":"IMF sees global economy continuing to fall"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The global economy is likely to contract for the first time in 60 years, the International Monetary Fund said Thursday.<\/p>\n

Economic activity worldwide will contract by 0.5 percent to 1 percent in 2009, IMF said in a report prepared for the Group of 20 summit meeting in London on April 2.<\/p>\n

World economies could return to growth in 2010, but that growth would be conditional on comprehensive policy steps,<\/q> the IMF said.<\/p>\n

Turning around global growth will depend critically on more concerted policy actions to stabilize financial conditions as well as sustained strong policy support to bolster demand,<\/q> the report says.<\/p>\n

Even a contraction of 1 percent is an improvement from the final quarter of 2008, when the IMF estimates global economic activity shrank at an annual rate of 5 percent.<\/p>\n

The IMF said the United States could see positive growth in the third quarter of 2010. In Europe, export demand has fallen and policy stimulus more modest than in the United States. In Japan, exports have plunged and domestic demand fallen sharply, the report said. The financial sector in Japan is also struggling, even though it is not at epicenter of the crisis,<\/q> IMF said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>IMF sees global economy continuing to fall<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-259328","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The global economy is likely to contract for the first time in 60 years, the International Monetary Fund said Thursday.<\/p>\n

Economic activity worldwide will contract by 0.5 percent to 1 percent in 2009, IMF said in a report prepared for the Group of 20 summit meeting in London on April 2.<\/p>\n

World economies could return to growth in 2010, but that growth would be conditional on comprehensive policy steps,<\/q> the IMF said.<\/p>\n

Turning around global growth will depend critically on more concerted policy actions to stabilize financial conditions as well as sustained strong policy support to bolster demand,<\/q> the report says.<\/p>\n

Even a contraction of 1 percent is an improvement from the final quarter of 2008, when the IMF estimates global economic activity shrank at an annual rate of 5 percent.<\/p>\n

The IMF said the United States could see positive growth in the third quarter of 2010. In Europe, export demand has fallen and policy stimulus more modest than in the United States. In Japan, exports have plunged and domestic demand fallen sharply, the report said. The financial sector in Japan is also struggling, even though it is not at epicenter of the crisis,<\/q> IMF said.<\/p>\n

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