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IMF lowers economic outlook, warns of danger ahead

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09/20/2011 09:41 AM
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IMF lowers economic outlook, warns of danger ahead
September 20, 2011: 9:16 AM ET

NEW YORK (CNNMoney) -- The International Monetary Fund lowered its global growth outlook, warning that "the global economy is in a dangerous new phase."

The IMF, a global financial institution comprising 187 nations, released excerpts from the latest edition of its World Economic Outlook Tuesday, ahead of its fall meeting in Washington this weekend.

It now expects the world's economic output to increase 4% in both 2011 and 2012, compared with growth of 5.1% in 2010. In June, the IMF had forecasted slightly more robust growth rates of 4.3% for this year.

[link to money.cnn.com]
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