IMF chief Christine Lagarde has stated that world economy is at a "very dangerous juncture" and IMF has further stated that Europe's worsening economy and financial market turmoil signifies that they are going to be forced to revise downwards its predictions of a typical global economic growth contained in its World Economic Outlook report published three months period ago.
Earlier this month the UN also cut its world growth forecast to 2.6 % in 2012 from 4 % in 2010, warning the worldwide economy is "teetering on the point of a serious downturn."Lagarde warned yesterday during meetings with Nigerian officials the fact that the European debt crisis posed a risk for "all economies around the world," and forecasted "stalled growth" in advanced economies.Christine Lagarde spoke today because the Eu fell short of the target for loans to the IMF destined to get a eurozone bailout.EU leaders had demanded 200 billion euros, however the 17 countries that share the one currency pledged 150 billion euros ($195 billion) in bilateral loans for the Fund late yesterday night, after Britain refused to stump up its roughly 30 billion euro share.
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