The world is now in the grip of the "great recesssion" and global economic growth could dip below zero for the first time in sixty years, said Dominique Strauss-Kahn, the head of the IMF.
Mr Strauss-Kahn, the managing director of the International Monetary Fund, made the comments at the opening of a conference in Tanzania on the impact of the world financial crisis on Africa on Tuesday.
He said: "The global financial crisis, that might now be called the great recession, provides a sobering backdrop to our conference. The IMF expects global growth to slow below zero this year, the worst performance in most of our lifetimes,"
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