IMF Sounds an Alarm Over the Global Economy

Tuesday, Oct. 9, 2012

The International Monetary Fund cut its projection for global economic growth this year to 3.3%, the lowest since 2009. The IMF said the chance of an even sharper decline, with growth falling as low as 2%, is "alarmingly high." The U.S. could slip back into recession if leaders fail to prevent a "fiscal cliff" of tax hikes and spending cuts from taking effect at year-end, the IMF said.

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