Global economy to contract 0.6% in 2009: IMF aide

Global economy to contract 0.6% in 2009: IMF aide
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First Published: Tue, Mar 17 2009. 08 20 PM IST
Updated: Tue, Mar 17 2009. 08 20 PM IST
Lisbon: The International Monetary Fund (IMF) expects the global economy to contract 0.6% this year, according to forecasts provided on Tuesday by an IMF official at a conference in Lisbon.
Teresa Ter-Minassian, an adviser to IMF managing director Dominique Strauss-Kahn, told reporters the figure was likely to be released shortly by the IMF.
It compares with the IMF’s last official forecast for the global economy, released in January, which pointed to global growth of 0.5%.
The US economy is seen shrinking 2.6% this year, compared with a January forecast of a 1.6% contraction.
The euro zone economy is expected to contract 3.2% and Japan’s by 5%, she said.
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First Published: Tue, Mar 17 2009. 08 20 PM IST