IMF Warns African Leaders of Recession

The International Monetary Fund (IMF) has warned that the world economy will likely contract this year in a “great recession”.

“The IMF expects global growth to slow below zero this year, the worst performance in most of our lifetimes,” says IMF managing director, Dominique Strauss-Kahn.

Strauss-Kahn also says that millions of people in Africa will be thrown back into poverty by the crisis, while fragile political systems will be tested. He was addressing African political and financial leaders in the Tanzanian capital Dar es Salaam.

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