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IMF head: It will take three years to recover the economic losses

de Radu Rizea     HotNews.ro
Vineri, 27 martie 2009, 15:48 English | Business


The economic losses caused by the international financial  crisis will not be recovered earlier than 2-3 years, said the head of the International Monetary Fund, Dominique Strauss-Kahn, on Friday. According to the IMF official, the economy may return to a positive growth in the first semester on 2010, in case good policies are applied and the banking system is "cleansed".

The toxic assets held by banks are above 2,200 - 2,300 billion dollars, Strauss-Kahn said, repeating the same estimations made in January.






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