Worst of financial crisis appears to be over: IMF chief

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

OSAKA, June 13, 2008 (AFP) – The worst of the financial crisis appears to be over but the major economies are likely to grow sluggishly for the rest of this year, International Monetary Fund head Dominique Strauss-Kahn said Friday.

“We have good reason to think that the financial crisis is mostly behind us but it’s too soon to say” for sure, he told reporters. The IMF expects “several quarters of soft growth” in developed countries with a proper recovery unlikely until 2009.

Notify of
Inline Feedbacks
View all comments