The IMF Reduces Its Forecast For Global Economic Growth

The IMF paints a picture of the economic issues in every part of the world and it reduced its estimate of global economic growth. It argues that the eurozone may need twice as much funding than it has allocated to dealing with its crisis. It also believes that politics in the US will prematurely impose austerity on an economy that is currently self sustaining. It is also concerned that US banks may have more risk than it believes from spillovers from Europe.