The International Monetary Fund (IMF) says that the economic slowdown in the U.S. is “less than feared” and the recovery process should begin sometime in 2009. While the U.S. should be commended for its quick and “innovative responses to a complex crisis,” there are still significant challenges ahead, says IMF First Deputy Managing Director John Lipsky.
The projection is for the economy to virtually stagnate the second half of this year before recovering in 2009.
About Mark Lee
Mark Lee has been a long-time journalist writing, editing and producing in print, radio television and new media.
