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IMF warning: international financial crisis still to be felt next year

de     HotNews.ro
Marţi, 25 septembrie 2007, 0:00


The financial crisis that has sparked chaos on the world market for the past several months is not over yet and its impact will be mostly felt next year, the International Monetary Fund (IMF) has warned.

IMF monetary and capital market director Jaime Caruana cited by AFP press agency said the international financial system was passing an important test.

Caruana believes that at the origin of the crisis is the relaxation of credits criteria on several world markets and especially on the American one. However, he refused to forecast any time limits.

IFM announced that after the financial market crisis it would revise the estimates already made for 2008 in the States and in Europe.

IMF head Rodrigo Rato considers that the impact will be also felt next year with the US expected to receive the hardest bump, according to Reuters.

Rato says the world economic development will be maintained in 2008 but there is a real risk that the process will be slowed down.
























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