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IMF forecasts economic decline in developed world

PUBLISHED ON: November 6, 2008 | Duration: 0 min, 40 sec

  
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The economies of the United States, Europe and Japan are expected to contract in 2009 as part of the first annual decline by the advanced economies since World War II, the International Monetary Fund said on Thursday. Governments should adopt economic stimulus packages to counteract the slowdown, the IMF said, while central banks "in some countries" should cut interest rates further. The fund didn't specify which countries.
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