WASHINGTON — The International Monetary Fund (IMF) said on Friday that downside risks to global recovery have intensified due to recent turbulence in sovereign debt markets and continued financial sector weakness.
The IMF, in a briefing note prepared for Group of 20 deputy finance ministers, said global growth had been somewhat stronger than expected during the first half of 2010, “but is projected to slow temporarily during the second half of 2010 and the first half of 2011.”
It said European policy actions to calm the eurozone debt crisis have eased market concerns.
“Renewed turbulence in sovereign debt markets could precipitate an adverse feedback loop between sovereigns and the financial sector, with spillovers to the real economy…,” it said.
The IMF also cited the US property market as a source of downside risk, with increased foreclosures further pressuring bank balance sheets and possibly causing a reduction in credit available to the economy.
The G20 “surveillance note”, prepared for a Sept. 4-5 meeting in South Korea, did not change any of the IMF’s forecasts. The Fund predicts global output will expand 4.6% in 2010 and 4.3% in 2011. — Reuters
Nov 16 – International Day for Tolerance
“No more toleration of corruption!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
November
Nov 2 – Intl Day to End Impunity for
Crimes Against Journalists
Nov 9 – World Science Day for Peace
and Development
Nov 16 – International Day for Tolerance
Nov 19 – World Toilet Day
Nov 20 – World Children’s Day
Nov 25 – Intl Day for the Elimination of
Violence Against Women
Monthly Observances:
Homes Safety Month
Filipino Values Month
National Rice Awareness Month
National Consciousness Month
for Punctuality and Civility
Environmental Awareness Month
National Children’s Month
Organic Agriculture Month
Weekly Observances:
Nov 19-25: Global Warming and
Climate Change Consciousness Week
Nov 23-29: National Girls’ Week
Population and Development Week
Nov 25 – Dec 12: Social Welfare Week
18-Day Campaign to End
Violence against Women
Week 2: Week 3: Drug Abuse Prevention
and Control Week
Last Week: Safety and Accident
Prevention Week
Daily Observances:
Last Saturday: Career Executive Service
Day
Nov 19: National Child Health Day
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