Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

IMF urges action to avoid worse downturn

 Comments
 IMF urges action to avoid worse downturn
Text size Aa Aa

A gloomy assessment from the International Monetary Fund which says that most of the world’s developed countries are at an economic standstill or on the brink of recession.

John Lipsky, the IMF’s first deputy managing director, also said that international policy-makers need to take aggressive and coordinated action to avert a deep global downturn.

Lipsky said more financial institutions will fail, and stressed that a systemic failure must be avoided.