n Professional Accountant - The implications of recent financial market turbulence for the global economy

Abstract

I would like to offer the perspective of the International Monetary Fund on the implications for the global economy of the recent financial market turbulence and credit-related crisis. Up to now, public discussion of this turbulence has been dominated by concerns about the effects on financial markets and on investors. I believe that it is also important to consider the economic effects, which could be significant, and which could affect people thousands of miles and millions of dollars in income away from the financial centers of London and New York. This is a global issue.