IMF: World Economy to Slow

ap.google.com — The world economy will slow sharply this year and next, with the United States likely sliding into recession reflecting mounting damage from the most dangerous financial jolt in more than a half-century. The International Monetary Fund, in its World Economic Outlook, slashed growth projections for the global economy and predicted the United States — the epicenter of the financial meltdown — will continue to lose traction. "The world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s," the IMF said in its report.

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