IMF says worst of the financial crisis may still lie ahead; Storm can be weathered without a damaging global recession; Recovery to be only gradual
Sep 19th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The worst of the financial crisis may still lie ahead and more major financial institutions may face trouble in coming months, IMF Managing Director Dominique Strauss-Kahn said on Wednesday. His deputy John Lipsky said on Thursday, the "storm can be weathered without a damaging global recession...the turmoil is one reason why we expect the recovery to be only gradual."