WASHINGTON (Reuters) - The IMF's updated forecasts to be released next month do not foresee a global recession but risks have risen, a senior International Monetary Fund official said on Friday.
"I can say that our base case is certainly not a recession," IMF First Deputy Managing Director John Lipsky told CNBC television. "There's no doubt however that risks have risen given the weak performance in many economic data in the last few months," he added.
Lipsky said rising risks to the global economy reflected a lack of confidence in policymakers' ability to rein in debts.
He urged both the United States and Europe to develop credible medium-term fiscal plans to boost confidence in their ability to cut their debt levels.
via news.yahoo.com
