Monday, Apr 06, 2009
Once again, Trillion is so yesterday. Not long untill the media starts talking about quadrillion!
Timesonline: Toxic debts could reach $4 trillion, IMF to warn
Toxic debts racked up by banks and insurers could spiral to $4 trillion (£2.7 trillion), new forecasts from the International Monetary Fund (IMF) are set to suggest.
The IMF said in January that it expected the deterioration in US-originated assets to reach $2.2 trillion by the end of next year, but it is understood to be looking at raising that to $3.1 trillion in its next assessment of the global economy, due to be published on April 21. In addition, it is likely to boost that total by $900 billion for toxic assets originated in Europe and Asia.
Posted by flintster1994 @ 10:47 PM (235 views) Add Comment
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