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January 25, 2012

Europe will slow world economy: IMF

  • European governments should avoid spending cuts and tax increases now, the IMF says, adding it may take two decades to pay off debts from the 2008 financial crisis and global recession.
    • By CHRISTOPHER S. RUGABER
    AP Economics Writer

    WASHINGTON — A recession in Europe will slow the global economy this year, the International Monetary Fund predicted Tuesday, while urging world leaders to focus on growth more than budget cuts.

    The IMF forecasts global growth of 3.25 percent this year, slower than the 4 percent pace it projected in September.


     
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