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IMF sees beginning of global recovery late 2009

IMF Managing Director Dominique Strauss-Kahn said he saw the beginning of a global economic recovery in late 2009 or early 2010 after a very difficult year.

Strauss-Kahn said the International Monetary Fund would probably cut its current 2009 global growth forecast in January.

“2009 will be a very difficult year, the figures in January will probably be worse than the previous one,” Strauss-Kahn said during a conference on Spanish-IMF relations.

“The good news, with some exceptions, maybe a lot of exceptions, we can see the beginning of the recovery end of 2009, beginning of 2010, but there are a lot of downside risks,” he added. (Reuters)