The managing director of the International Monetary Fund (IMF) said its global growth forecast is likely to be cut next month and that 2009 is going to be a very difficult year.
In November, the IMF reduced its global economic growth forecast to 2.2% from 3% but this is likely to be lowered again. Strauss-Kahn called for “large and diversified stimulus support that will last longer than one or two quarters” and admitted that it would take $1.2 trillion to make "a sizeable difference and reduce the risk of a damaging global recession”.
