In its latest report on the world economy, the IMF does not mince words and defines the economic crisis of recent months as "the worst since 1930." The Fund describes global economy slows down from +5% in 2007 to 3.9% in 2008 to curb more than +3% in 2009, a pace that many experts consider the edge of recession. According to analysts of the Fund "the world economy is entering a growing economic depression because of the most dangerous financial shock to the advanced economies by the year Thirty. " In July, the IMF estimated the world economy grew by 4.1% in 2008 and 3.9% in 2009. But now things have changed. "Many advanced economies - the report said - are close, or already entered a recession, while growth in emerging economies has weakened." The guilt and 'especially the financial crisis, which after the collapse of the subprime in August 2007 is "worse in the last six months" and has entered a "tumultuous new phase in September." "There is no recovery in sight - the report says - and when it will be gradual." However, the IMF provides that "a gradual recovery is expected to emerge towards the end of 2009." There are three driving factors: the prices of raw materials, which are stabilizing, the U.S. housing sector crisis, which should touch the bottom at the end of 2009 and the emerging countries, which continue to trawl. The IMF expects the U.S. economy will grow by 1, 6% this year, 0.3% more than previously estimated in July, but will slow dramatically in 2009, rising only 0.1%, 0.7 % less than in July. In hard braking the ' Eurozone will grow by only 1, 3% this year (-0.4% compared to July) and just 0.2% in 2009 (-1% compared to July). Among the European economies, Italy is among the worst, surpassed only by Ireland. Our country in 2008 and 2009 will go into recession and will shrink the GDP respectively by 0.1% and 0.2%. Germany too bad that the Fund will increase by 1 second, 8% this year and will post zero growth next, while France will see its GDP rise by only 0.8% and 0.2% in 2008 and 2009. Braking Britain, whose economy is' still expected positive growth of 1% this year and negative growth of 0.1% next year. Outside Europe braking Japan, whose GDP will increase from 2.1% in 2007 to +0.7% in 2008 and +0.5% in 2009. China will see its GDP shrink slightly and stellar pass from 11.9% last year to +9.7% and +9.3% this year and next. India too slow going from 9.3% to 7.9% in 2008 to +6.9% in 2009. "Looking ahead - says the World Economic Outlook - financial conditions remain very difficult, restricting the prospects for global economic growth." "According to the baseline scenario - the report says - the actions of U.S. and European authorities succeed in stabilizing financial conditions and avoiding further systemic events. However, even winning the U.S. plan will have an application that aims to remove financial statements of the activists' most dangerous counterparty risks remain at exceptionally high levels for some time and a slow return to a more liquid financial market. " "However - continues - they are very likely other losses in the banking sector as the economy decelerates. In this situation, the financial institutions' ability to rake fresh capital remains very difficult and limits on credit creation will continue at least through 2009. "
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