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World economy to shrink below zero: IMF

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Reuters

Posted: Mar 10, 2009 at 1306 hrs IST

Dar Es Salaam The International Monetary Fund expects the global economy to shrink below zero in 2009, the head of the IMF said on Tuesday.

Continued deleveraging by world financial institutions, combined with a collapse in consumer and business confidence is depressing domestic demand across the world, IMF Managing Director Dominique Strauss-Kahn told African leaders in the Tanzanian capital.

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