EU EURO COUNTRIES: IMF calls for action as euro zone crisis festers | Reuters

Wednesday, October 10, 2012

IMF calls for action as euro zone crisis festers | Reuters

IMF calls for action as euro zone crisis festers | Reuters

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RAYLOKEOctober 10, 2012 at 10:07 PM
"We expect action and we expect courageous and cooperative action on the part of our members," Lagarde told reporters ahead of the IMF's twice-yearly meetings in Tokyo.

The slowdown has not spared emerging market economies, which were instrumental in pulling the global economy out of recession in 2009. Brazil cut interest rates on Wednesday and South Korea on Thursday.

"Developing countries, which have been the engine of growth, will not be immune the increased uncertainty in the global economy," said World Bank President Jim Yong Kim.

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