The International Monetary Fund reduced its forecasts of global economic growth today and warned that there is an “alarmingly high” risk of a serious world economic slowdown.
The IMF decreased it’s forecast of global growth from 3.5 percent in July to 3.3 percent. It projects 2013 world growht to be 3.6 percent.
Fiscal problems Europe are weighing heavily on the world economy, among other concerns. The Eurozone economies are expected to contract by 0.4 percent this year, and they are expected to grow just 0.2 percent next year.