IMF forecasts global recession in 2009 for first time in 60 years; Advanced economies to contract sharply - - upturn in 2010
Mar 19th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The IMF - - International Monetary Fund - - today forecast a global recession for the first time in 60 years and said despite major stimulus packages announced by advanced economies and several emerging markets, trade volumes have shrunk rapidly, while production and employment data suggest that global activity continues to contract in the first quarter of 2009.