IMF warns of global slowdown.
The institution's director-general, Christine Lagarde, warned that growth will be lower than predicted three months ago.
247 with international agencies - The director of the International Monetary Fund (IMF), Christine Lagarde, warned this Friday (6) that global growth is slowing down and will be lower than predicted three months ago by the institution.
In its April forecasts, the IMF predicted global growth of 3,5% for this year and 4,1% for 2013.
At the same event, Lagarde praised the progress made by European countries at the Brussels summit in June, but stated that more will need to be done to overcome the debt crisis.
During the Brussels meeting, Eurozone leaders decided to establish a mechanism that would allow for the direct recapitalization of banks using European emergency funds. (With information from France Press)