IMF's de Rato Sees Turbulent Global Economic Growth

Source : The Business Times, September 21, 2007

In comments to economic leaders in Lima, Peru, Mr de Rato said China and India will grow above average but the turbulence will be felt in some Latin American countries in the fourth quarter and cut economic expansion by up to 0.5 per cent through 2008

LIMA - The global economy is in 'times of great uncertainty' because of turbulent credit markets that will cut economic growth rates in 2008, IMF chief Rodrigo de Rato said on Thursday.

In comments to economic leaders in Lima, Peru, Mr de Rato said China and India will grow above average but the turbulence will be felt in some Latin American countries in the fourth quarter and cut economic expansion by up to 0.5 per cent through 2008.

Mr de Rato's speech was prepared for a closed-door session to policy makers from several countries at an event of Cepal, the United Nation's economic unit for Latin America and the Caribbean.

'We are living today in times of great uncertainty,' he said. 'We know that turbulent credit markets will affect global growth, mainly in 2008, when they will fully impact (economic) indicators.' -- REUTERS