IMF Reccomends Stronger Measures to Fight the Global Financial Crisis (2)
We come back to the IMF handbook published on April 2009, called “Global Financial Stability Report”. This time, we make refference to its reccomendations.
But before this, a new estimation of the IMF on the global write downs of assets. In January 2009 IMF estiamted the bad assets writing off to around $2.7 billion in the US only. In this latest report, the estimations included also other mature market-originated assets, which could increase the total write offs to around $4 billion. In other words, $4 billion of the US economy has been wiped off by the financial crisis (or will be, total until the end of 2010). Scary, isn’t it?Read More »IMF Reccomends Stronger Measures to Fight the Global Financial Crisis (2)
This looks kind of obvious, but when it comes from a markets guru such as the IMF managing Director Dominique Strauss Kahn it can be taken quite seriously. The Director also mentioned that the first recovery will come in the first two quarters of the next year.