Euro Crisis : IMF Warning for Europe
By
Alice Hudson
PUBLISHED:
Jul 17 2012 @ 06:42
|
Comments (0)
|
More info about Alice Hudson
The International Monetary Fund (IMF) has warned the worst of the euro crisis may be yet to come, as it cut its global growth forecast again this week.
The organisation warned predicted growth rates could be slashed further if Europe’s policy makers do not act fast enough, and/or with enough force to stamp out the region’s on-going debt crisis.
The latest estimates saw the IMF trim its 2013 forecast for global economic growth to 3.9% – down from the 4.1% figure foreseen in April.
The UK was the recepient of the most dramatic growth rate cuts, with GDP now expected to grow by just 0.2 per cent this year. Growth in 2013 is set to reach 1.4 per cent, down 0.6 percentage points from April’s prediction.
That compares with US growth forecasts of two per cent in 2012 and 2.3 per cent in 2013, each down 0.1 percentage point on the previous outlook.
The productive capacity of emerging market, ‘BRIC’ nations would likely be lower than previously believed according to the IMF experts, meanwhile the US was warned against letting tax breaks and spending projects expire this year.
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.
Hot Features
Premium
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
