





IMF: Financial crisis may cost 800 billion US dollars
This is a period of exceptional uncertainty and the distribution of risks for the US perspective is extended, accompanied by a high probability of new shocks to lead the American economy to recession, Singh said.
He said the crisis affecting the real estate sector in the US is a level zero for problems affecting financial markets.
And he believes the banks' losses because of the risky mortgage markets will amlunt to some 230 billion US dollars.