Um, Just So You Know: World Growth Grinds to Virtual Halt

The IMF calls for more action.

By SHARE

A few pretty awful highlights culled from the IMF's latest World Economic Outlook:

  • World growth is projected to fall to just half of one percent in 2009, its lowest rate in 60 years.
  • Potential losses in U.S. originated credit assets held by banks and others are estimate at $2.2 trillion, up from $1.4 trillion last October.
  • In India, growth is expected to slow to 5 percent, while China is expected to slow to 6.75 percent.
  • Deflation is now a risk.
  • The IMF's answer for worsening economic woes? More stimulus, pretty much everywhere.
  • For a more on China today see Floyd Norris, and for an even worse prediction on banking troubles there is (as always) NYU's Nouriel Roubini, who puts banking losses at $3.6 trillion.

    • Kirk Shinkle

      Kirk Shinkle is a senior editor for U.S. News Money and manages the Best Funds portal. Follow him on Twitter @KirkS or email him at kshinkle@usnews.com.

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