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
May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
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