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World economy may shrink up to 1 pct: IMF

The IMF sees the world economy contracting by between 0.5 per cent and 1 per cent in 2009.

Written by Reuters | Madrid | Published: April 1, 2009 11:41:42 am

The International Monetary Fund sees the world economy contracting by between 0.5 and 1 per cent in 2009,Mananging Director Dominique Strauss-Kahn said in an interview published on Wednesday.

He said a recovery could come in the first two quarters of 2010.

“If … economic policies are appropriate,the recovery should come in the first two quarters of 2010,” he told Spanish newspaper ‘El Pais’.

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