IMF Sees an Even Deeper Recession
A shrinking global economy has many at the International Monetary Fund worried, as economists project that 2009 will see a decline of 1.3 percent in world economic output -- the first global recession since World War II.
A shrinking global economy has many at the International Monetary Fund worried, as economists project that 2009 will see a decline of 1.3 percent in world economic output — the first global recession since World War II.
Your support matters…The BBC:
The global economy is set to decline by 1.3% in 2009, in the first global recession since World War II, the International Monetary Fund (IMF) says.
In January, the IMF had predicted world output would increase by 0.5% in 2009.
But other major economies are predicted to shrink even more, with Germany declining by 5.6%, Japan by 6.2%, and Italy by 4.4% in 2009.
The prospects for the advanced economies are not much brighter in 2010, with an overall forecast of zero growth.
Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
Environment
At least, not fast enough to reach international targets.
Politics
But MAGA world's feud with Swift is an excellent vehicle for observing the ever-quickening decay of American politics.
TD Original
The multibillion-dollar Effective Altruism movement makes rich people feel good about being rich — to hell with the bad publicity.
TD Original
A well-wishing appreciation of Matt Christman.
Book Review
A new book by former Greek finance minister Yanis Varoufakis argues that capitalism as we knew it has been displaced by a twenty-first century feudalism.
TD Original
Social disappearing acts reflect the deepening inhumanity of a technology-addled, coldly transactional world.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.