The United States is heading towards recession with major global slowdown amid financial crisis International Monetary Fund (IMF ) in its latest World Economic Outlook (WEO) predicts.
- World growth will slow amid most dangerous financial shock since 1930s
- No growth in many advanced economies until at least mid-2009
- Global economy expected to stage modest recovery later in 2009
Indian Billionaire Vijay Mallya’s Kingfisher Airlines is re-evaluating whether it should launch the international operatios or defer it for a few months.
Due to sharp rise in aviation turbine fuel prices, the slowdown in international travel and the uncertainty in the aviation market (many US carriers have gone bankrupt) Kingfisher Airlines has decided to rethink its whole strategy of flying abroad.
The world is heading towards a global recession, latest forecasts from the International Monetary Fund (IMF) have predicted.
In it’s latest report International Monetary Fund (IMF) have predicted world growth could slow to 3.7 % in 2008— 0.5 % point lower than what was forecast in the January 2008, citing the unfolding financial market turmoil as the biggest downside risk to the global economy.