Monday, April 6, 2009

Once again, Trillion is so yesterday. Not long untill the media starts talking about quadrillion!

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 (565 views)
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