Canada’s recovery to be more modest as downside risks dominate
Risks to global financial system instability have intensified in recent months, the International Monetary Fund says, and it worries that many banks may not have enough capital to weather the economic downturn.“In spite of extensive policies, the global financial system remains under intense stress,” the IMF notes in the latest edition of its global financial […]
Any delays in fiscal stimulus likely to worsen growth prospects
Advanced economies now expected to contract by 0.25%
Financial conditions are expected to remain very difficult
US$675 billion in capital needed by the major global banks to keep private sector credit growing
One year after subprime crash, risks remain elevated
Tighter monetary policy required in many emerging economies
U.S. likely to experience mild recession
Report estimates credit crunch-related losses at $945 billion