 | Early this year, the World Economic Outlook predicted that the global economy would rebound from the financial crisis and grow by 0.5 percent. Optimistic experts even said the world economy would recover, albeit gradually, with a 1.5 to 2.5 percent growth rate beginning in 2010.
However, according to a recent report by the International Monetary Fund (IMF), ① ________ ____ ____ _______ ___ _____ . During the recent Group of 20 meeting of finance chiefs, the IMF predicted that the world economy would shrink in 2009 by as much as 1.0 percent. If that were to happen, it would be the first time the world economy ② _________ ___ __ ________ ___ ______ _______ . "Global economic activity is falling - with advanced economies registering their sharpest declines in the post-war era - notwithstanding forceful policy efforts," the IMF said in a statement.
The IMF has even predicted that advanced economies will ③ _______ _____ __ ___________ ___ as much as 3.0 to 3.5 percent. The seven countries ④ ________ ___ ___ ____ ____ _________ ________ Britain, Canada, France, Germany, Italy, Japan, and the United States. The IMF warned the U.S. and Japan that their risk of deflation would be the highest and predicted a 2.6 percent drop in the U.S. economy and a 5.8 percent drop for Japan in 2009. Europe's economy is ⑤ _________ ___ _______ by 3.2 percent. "The turnaround depends critically on more policy actions to stabilize financial conditions and strong policy support to increase demand," the IMF said. |
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