IMF warns of ‘fire and ice’ threat to the world

The head of the International Monetary Fund has warned that the world economy is trapped between “fire and ice” – the threat of slumping growth and of rising inflation.

Opening the IMF’s spring meetings, Dominique Strauss-Kahn told ministers coming to Washington that there was only limited time to repair the financial system after the worst crisis since the Great Depression.


Speaking with oil prices at record highs, he declared that “inflation may be back” and warned the relentless rise of food prices would hit efforts to reduce poverty in Africa and Asia.

Telegraph