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IMF Report Downgrades Global Economy and Issues Debt Warning


IMF Report Downgrades Global Economy and Issues Debt Warning

Jubilee USA

WASHINGTON - The International Monetary Fund (IMF) downgrades global growth forecasts and warns of rising debt levels in "emerging" economies in its newly released World Economic Outlook report. The report lowers growth forecasts in low-income and developing countries from 6% in 2014 to 4.8% in 2015. The IMF releases the report twice a year before its Spring and Annual Meetings. This year's joint IMF/World Bank Annual Meetings begin this week in Lima, Peru.



Unfortunately this article fails to mention that the IMF is responsible for this debt. Their restructuring requires cutting social welfare which is always disastrous as countries can not help their people become economically self-sufficient. Clearly the IMF is another victim of trickle down economics, hoping that all the support they gave to the rich would enrich everyone. So the IMF is disappointed? No, the IMF never wanted the developing countries of the world to succeed and in that the IMF should be pleased that the disasters they have created are doing what they intended.