The head of the International Money Fund believes the global economic meltdown may be starting to wind down, and recovery could emerge in 2010.
But Dominique Strauss-Kahn says countries must act together and immediately adopt policies aimed at ending the recession.
Strauss-Kahn, a former finance minister in France, says the impressive economic gains many countries have made during the past decade are threatened. He says there is a risk that low income countries could be cast back into poverty and that the human consequences "could be absolutely devastating."
Strauss-Kahn, speaking Washington, said the IMF, a 185-nation Washington-based lending institution, must now live up to the trust placed in it by the international community.
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CUT 286 (04/16/09)>> 00:05 "it's already done"
Dominique Strauss-Kahn
Dominique Strauss-Kahn, head of the International Monetary Fund, says global economic recovery probably won't start to emerge until 2010, and then, the right policies must be adopted.
CUT 287 (04/16/09)>> 00:11 "understood by everybody"
Dominique Strauss-Kahn
Dominique Strauss-Kahn, head of the International Monetary Fund, says 2009 will continue to be "an awful year."
CUT 288 (04/16/09)>> 00:16 "half of 2010"
Dominique Strauss-Kahn
Dominique Strauss-Kahn, head of the International Monetary Fund, says the global economic meltdown may be starting to wind down.
CUT 289 (04/16/09)>> 00:07 "being adopted today"
Dominique Strauss-Kahn
Dominique Strauss-Kahn, head of the International Monetary Fund, says the global economic may start to recover in the first half of 2010.
