The head of the International Monetary Fund says that the US financial crisis threatens to send the world into a recession.
IMF Managing Director Dominique Strauss-Kahn said at a news conference in Washington that the credit market turmoil can only be resolved through international co-operation. The IMF head stressed that policymakers must co-operate in a transparent manner if the turbulence were to be overcome. He said a recovery from the current crisis was possible in mid- to late 2009. Strauss-Kahn and World Bank chief, Robert Zoellick, are also expected to attend a weekend meeting between the finance ministers of the world's top seven industrialised countries German Finance Industry Agrees on Hypo Real Estate Deal ...
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(Deutsche Welle)
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