The International Monetary Fund on Thursday forecast a prolonged, deep global recession, a "sluggish" recovery, and weak capital flows to emerging economies that would hammer eastern Europe.
"The current recession is likely to be unusually long and severe and the recovery sluggish," the IMF said in releasing two chapters from its twice-yearly World Economic Outlook (WEO).
The fund offered no timeline for a recovery from the first global recession in six decades.
The IMF also warned that "the decline in capital flows to emerging economies ... may be protracted, given the solvency problems facing advanced economy banks who provide significant financing to emerging economies." (more)
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