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IMF Report: Global Growth Slows to 3.7 Percent


A new report from the International Monetary Fund says global economic growth will slow more than one percent this year.

The IMF study says global growth will decline to 3.7 percent in 2008 and stay at about the same level the following year.

The economists blame the slowdown on problems in advanced economies, particularly the United States.

But they say developing nations are weathering this economic down-turn better than they have similar incidents in the past because they are better integrated into the world economy.

Many developing nations have benefited from major price increases for the commodities they export, and have worked to diversify their economies to ease the ups and downs that affect commodity markets.

Some information for this report was provided by Reuters.

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