IMF cuts global growth forecast | Bangkok Post: breakingnews

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IMF cuts global growth forecast

The IMF slashed its global growth forecast and warned things could get much worse if the eurozone crisis is not quelled and Washington fails to reverse the looming "fiscal cliff" austerity plan.

International Monetary Fund (IMF) economic counsellor and director of the research department Olivier Blanchard (C) announces the world economic outlook at a press conference in Tokyo on October 9. The IMF slashed its global growth forecast and warned things could get much worse if the eurozone crisis is not quelled and Washington fails to reverse the looming "fiscal cliff" austerity plan.

Unrelenting market turbulence and budget-cutting in developed countries has spun worries about risks across the globe, slowing trade and investment, the International Monetary Fund said in a report released Tuesday in Tokyo.

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