International Monetary Fund publishes report echoing negative market growth predictions published by Bank of Israel; says Israeli market to see 0.2% slump
The International Monetary Fund (IMF) intends to publish a bleak projection for the Israeli economy, predicting it would see a negative growth rate of 0.2%. The Bank of Israel recently published similar projections.
The projections are based on a report filed by an IMF mission who visited Israel at
the end of 2008. The financial crisis sweeping the United States and Europe, it said, "Is likely to translate into a period of financial weakness and major risks for Israel."
Global Crisis
Bank of Israel predicts recession in 2009 / Gil Kol
Annual projections revised, country said to see 0.2% negative growth rate in coming year, market to get back on track by mid 2010
The International Monetary Fund revised its projections for world market growth in 2009 just last week, slashing it from 2.2% to 0.5%. The IMF also predicts world trade to slip from the initial projection of a 2% growth to a 2.8% drop.
The IMF report carries international significance, since it is distributed to all the major financial institutions and bodies worldwide, the report also affects credit ratings and Israeli bonds' value.
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