World economic recovery 'has started': IMF chief
Thu Oct 1 23:42:24 EST 2009
Thu Oct 1 13:42:24 UTC 2009
The head of the International Monetary Fund says the global economic recovery has started .. but the crisis isn't over because unemployment will grow and financial sector risks remain.
DOMINIQUE STRAUSS-KAHN says the delay between growth resuming and unemployment peaking can be as much as 14 months.
He says until jobless rates start to fall .. it's hard to say the crisis is over.
The IMF has projected the global economy will shrink 1.1 per cent this year and rebound to annualised growth of 3.1 per cent in 2010.
Mr STRAUSS-KAHN's comments have come in a speech to university students in Turkey .. during which a protester has thrown a shoe at the IMF chief.
