According to International Monetary Fund Managing Director Rodrigo Rato, credit crunch will have bigger blow on world economy next year compared to the current year.
Fallout of the credit crisis, triggered in July by a meltdown in U.S. mortgages, would felt most in the United States and Europe and lead to a "mild" slowdown in the global economy, Rato told reporters in the Saudi port city of Jeddah. The consequences of the crisis are "manageable," he said.
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