by Justin, GoldSilverBitcoin:
The IMF has changed their prior view that emerging markets were to rescue the world from global depression.
A confidential note on world economic prospects was seen by the Financial Times. In this note, the IMF imparts that it believes emerging economics are no longer the dynamic engine of global growth. The fund instead wrote, “momentum is projected to come mainly from advanced economies, where output is expected to accelerate”.
The note is to be presented to world leaders in attendance at the Group of 20 summit in St. Petersburg this week. The IMF urges them to take action so as to lessen risks from newly acknowledged weaknesses in poorer countries.
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