Lipsky, speaking at the World Economic Forum’s 2009 annual conference on the global economic outlook in Davos, Switzerland, said that the IMF believes that as long as countries come up with adequate measures to deal with the financial crisis and economic downturn, the global economy will be able to The recovery will begin before the end of this year.
The latest forecast released by the IMF recently shows that the global economic growth rate will slow down to 0.5% this year, the lowest level since the Second World War, and is expected to rebound to 3.0% next year.
Canadian Central Bank President Mark Carney said at the seminar that the global economic situation this year will be quite severe, especially in the first quarter, but his views on the global economic situation next year are more optimistic than the IMF.
In addition, French Minister of Economy, Finance and Employment Lagarde warned at the seminar that the financial crisis may trigger a rise in protectionism.
She also urged governments to re-establish confidence in the financial system before the G20 held its second financial summit in London in early April.
Source: Securities Times
IMF's first vice president expects global economy to recover before the end of 2009
Lipsky, the first vice president of the International Monetary Fund (IMF), said on January 31 that the global economy is expected to start recovering before the end of this year.