IMF: World on brink of recession; prepares special loan program
Thursday, October 9, 2008 The head of the International Monetary Fund (IMF) says the world is on the brink of a global recession but predicts the economy will begin to recover by late 2009. Dominique Strauss-Kahn, Managing Director of the IMF, stressed nations must work together to avert a global recession and warns there is “no domestic solution” to the crisis. He also said this week’s coordinated interest rate cuts around the world are aContinue reading