The International Monetary Fund (IMF) stated that the impact of the global financial crisis will interfere with economic growth for at least the next seven years. The IMF also recommends structural reforms to reduce the damage.
“Typically the banking crisis has long-term impact on the level of economic output, although growth eventually recover. The low employment, investment and productivity all contributed to the decline in output,” said the IMF World Economic Outlook (WEO) released his economists.
The conclusion is presented in a report released ahead of the agency’s annual meeting in Istanbul early October. IMF economists refer to the 88 banking crises during the last four decades in some countries. (more…)
Crude oil prices in Asian trade Tuesday on strong to penetrate the $ 70 per barrel. This strengthening of the exchange rate triggered by the weakening U.S. dollar against the euro and a strong currency in Asia.
