April 22, 2009

IMF predicts global economy to worsen in 2009

Per BBC, global economic output will decline 1.3 percent and advanced economies will weaken 3.8 percent in 2009, according to a new report released by the International Monetary Fund (IMF). The IMF says the world is currently experiencing "by far the deepest post-World War II recession."

The news quickly circulated worldwide on Twitter.

  1. Faraz Qureshi
    farazq (New York, N.Y.) IMF finally figures out there is a world recession. Is this seriously "breaking news"? http://twurl.nl/oibx4o
  2. Courier Mail News
    cmail (Brisbane, Australia) More Aussie jobs to go - IMF: AUSTRALIA's jobless rate is tipped to soar to 6.8 per cent this year – or roughly.. http://tinyurl.com/c7zvq5
  3. Arjun Ghosh
    arjunghosh (New Delhi, India) bad news again RT @ReutersIndia: TOP NEWS: World economy in severe recession, IMF says http://r.reuters.com/wef44c
  4. Calvin Jones
    calvin141170 (West Cork, Ireland) Sounds like the IMF is saying that Ireland is basically f***ed: €24 billion to stabilise banking system, or 13.9% of GDP. Not good :-(
  5. yckong
    yckong (Shanghai, China) IMF slashes outlook for global economy: The global economy will contract sharply this year and recover only slug.. http://tinyurl.com/ckcbdv

Not all interpreted the report the same way, however.

  1. David Burns
    englishidiot (Undisclosed) When the IMF get their sums wrong or release the wrong figures, you have to wonder if there is really anybody in charge up there.
  2. Shelley Pryor
    spitzenburg (St. Louis & Sugar Grove, N.C.) The IMF sees a "shift toward recovery" - YESSS. http://bit.ly/M30zu

One Twitterer offered a potential solution to the looming crisis.

  1. alterquest
    alterquest (Queensland, Australia) IMF says "world economy is going to get worse." We say " Why not scrap the old system, get a global currency & make a new economic system?"

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