16 Oct '11, 12am

Economic weakness in advanced economies is now hitting emerging countries: IMF chief Christine Lagarde

Economic weakness in advanced economies is now hitting emerging countries: IMF chief Christine Lagarde

Emerging economies, whose growth helped support the world economy during the global economic crisis, are starting to be hit by the weakness in advanced economies, the head of the IMF said on Saturday. -- PHOTO: AFP PARIS (AFP) - Emerging economies, whose growth helped support the world economy during the global economic crisis, are starting to be hit by the weakness in advanced economies, the head of the IMF said on Saturday. The perspectives for the global economy have deteriorated over the past few weeks and the weakness of advanced economies 'is beginning to hit emerging countries as well,' IMF chief Christine Lagarde said after talks between G-20 finance ministers in Paris. 'The main thing is that the situation has got worse rather than having improved over the last three weeks,' she said. 'We heard a lot from the emerging markets that they are very concerned about the...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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