Global growth could dip below zero

March 10, 2009

, DAR ES SALAAM, March 10 – Global economic growth could dip below zero for the first time in decades in 2009, International Monetary Fund Managing Director Dominique Strauss-Kahn said on Tuesday.

"The IMF expects global growth to slow below zero this year, the worst performance in most of our lifetimes," he said at the opening of a conference in Tanzania on the impact of the world financial crisis on Africa.

"Continued deleveraging by world financial institutions, combined with a collapse in consumer and business confidence is depressing domestic demand across the world," Strauss-Kahn said.

Strauss-Kahn had said last month he expected zero growth in 2009.

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