USA Today
January 28, 2009
The International Monetary Fund expects the global economy "to come to a virtual halt" this year, the BBC reports.
The grim statement from IMF chief economist Olivier Blanchard follows the IMF's forecast that world economic growth is set to fall to just 0.5% this year, its lowest rate since World War II.
The BBC notes that in October the IMF had predicted world output would increase by 2.2% in 2009.
The grim news from the IMF comes on the same day that the International Labor Organization says the global economic crisis could cost up to 51 million lost jobs worldwide, the BBC says.
SOURCE:
http://blogs.usatoday.com/ondeadline...edicts-vi.html
