RealNews

Spain among biggest victims of crisis, warns IMF

The International Monetary Fund on Thursday suggested that Spain will be among the economies worst affected by the current economic crisis, slashing its forecast for Spanish economic growth next year even as it raised growth predictions for the United States and the euro zone. The IMF confirmed its April forecast for an expansion in Spanish GDP by 1.8 percent in 2008, but cut its growth estimates for 2009 by half a percentage point to 1.2 percent on the back of a sharper-than-expected slowdown in recent months. Full Story

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