As growth lags, IMF shifts gears

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BRUSSELS — The International Monetary Fund, known throughout its history for urging governments to slash their budgets, is now worried that a global round of austerity may trigger a new recession and is urging countries to look for ways to boost growth.

On Monday, the agency warned the world's leading economies that belt-tightening by governments, companies and consumers has been become so aggressive that the global economy could falter because of anemic demand.

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Joby Warrick 18 Oct, 2011


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