Posted AT 10:42 AM EST on 09/04/08
IMF sees 25% chance of global recession this year and next
OTTAWA — The world has a 25 per cent chance of tipping into recession this year and next, and countries in trouble should pull out all their policy stops to make sure it doesn't materialize, the International Monetary Fund says.
The global expansion which has endured for years is now at risk because the U.S. slowdown will likely stick around well into 2009, the IMF projects in its latest global economic forecast.
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