International Monetary Fund chief Christine Lagarde told the media that the IMF’s planned 2012 global GDP growth forecast of 4% may be to high. The official number will be released next month.
She believes that the fast-moving wheels of the developing economies may not offset the slow-moving one of the developed world.
She told Journal du Dimanche that the financial crisis is spreading into “a crisis of confidence in public debt and the financial system. The main player, America, is affected. And emerging countries, today’s engines of recent expansion may suffer.”
Lagarde mentioned China, Brazil and Russia, “where growth forecasts are revised downwards. These countries, which were locomotives, these factors are subject to instability.” In late January, the IMF will deliver its world economic forecasts. It was counting on an increase of up to 4%. Lagarde warned that this figure will be revised downward.
Douglas A. McIntyre
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
