Growing danger of WORLDWIDE RECESSION(DEPRESSION), says top bank as IMF also sounds alarm
THE world is looking more likely to fall into a recession said a top investment bank, as the International Monetary Fund (IMF) warned more needs to be done to prevent another global financial crisis.
By LANA CLEMENTS
Express.co.uk
Thu, Feb 25, 2016
Citigroup slashed its global economic growth forecast for 2016 amid deteriorating conditions in a note to investors this week.
On top of hits from China’s slowdown and lower oil prices, there are now worries that that the world’s largest economy America is stuttering.
At the same time the IMF last night said the G20 needs to make a plan to stop the slowing global economy from completely stalling.
Citigroup economists said: “Global growth is at a highly precarious point.”
They added: “The longstanding fragilities in the world economy relate to the structural and cyclical slowdowns in China and its unsustainable exchange rate regime, the excessive level of debt across many countries and sectors and ongoing regional and geopolitical uncertainty.”
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