Cost of Crunch - Monday 14th April 2008
Figures released this week have highlighted that the credit crunch could cost up to $945bn (£472bn).
The International Monetary Fund who has compiled the figures is even suggesting that costs could rise even further in the coming months.
Losses the IMF warn are spreading from the sub-prime mortgage sector into other more commercial areas such as consumer credit cards, business debts and commercial property.
The IMF who regulates the global economy is not just worried about things here in the UK but is warning of a global slowdown which may have much more of an impact than other downturns that have been seen previously.
The report was released ahead of the IMF's spring meeting in Washington D.C which will be attended by leaders from around the world.
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