BUDAPEST, HUNGARY -- The Managing Director of the International Monetary Fund, Dominique Strauss-Kahn, has warned that the world economy will decline more than previously anticipated.
His announcement in Budapest came as Eastern European countries on Wednesday, January 15, already expressed concerns over the economic implications of an ongoing dispute between Russia and Ukraine over natural supplies that has impacted some 20 countries.
Strauss-Kahn said Germany's biggest stimulus package since World War II offers some hope, although he cautions that Europe lags behind the United States in enacting measures to stem the economic crisis.
He spoke after meeting officials in Hungary, which has received a multi-billion dollar rescue package. Strauss-Kahn, offered reporters of Worthy News and other media, a grim outlook for the global economy this year saying the world economy is slowing more than the IMF had predicted.