29.1.09

Pundits predict...


The world economy will essentially come to a halt this year as more than $2 trillion of bad assets clog the financial system, the International Monetary Fund said. The global economy will grow by only 0.5 per cent this year, the IMF said. That would be the slowest pace since World War II and is a sharp reduction from the IMF's projection of 2.2 per cent growth in November.
The IMF revised the growth prospects for India to 5.1 per cent in 2009 against its earlier forecast of 6.3 per cent.For the year 2010, the multilateral agency downgraded India’s growth projections to 6.5 per cent from earlier estimates. It expects financial conditions to remain tight.
The IMF has also downgraded China's growth forecast for 2009 to 6.7 per cent from 8.5 per cent projected earlier.

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