IMF lowers 2008 global growth forecast

10/10/2007 -- 11:25 AM

Ha Noi (VNA) - The International Monetary Fund (IMF) has lowered its 2008 global growth forecast to 4.8 percent from a previous estimate of 5.2 percent. The IMF slashed its estimate for US economic growth next year to 1.9 percent from the previous forecast of 2.8 percent, French AFP news agency reported. Global economic locomotive China would see its growth forecast trimmed by a half percentage point to 10 percent, the agency said. For the 13-nation eurozone, the IMF anticipates economic growth next year of 2.1 percent, compared with its earlier forecast of 2.5 percent. Previous estimates had been made before the international banking system was rocked by turmoil stemming from the collapse of the US market for high-risk home loans. Official IMF forecasts are to be published next week.-Enditem
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