Market crisis poses increasingly serious risk to growth, IMF

Paris (ANTARA News/AFP) - The global markets crisis poses an increasingly serious risk to economic growth, the head of the International Monetary Fund said here on Monday, saying IMF growth forecasts would be cut further.

The entire monetary system is beginning to come under strain, Dominique Strauss-Khan told a press conference here, pointing to the strong euro, the weak Japanese yen and Chinese yuan and a US dollar that he said was somewhere in between.

That has led to a situation of increasing market tension and has created problems for economic growth, he said.

He added that IMF forecasts to be released in the coming weeks would be weaker than previous estimates for the United States, Europe and emerging market countries.(*)