Interest Rate Roundup

Tuesday, April 21, 2009

IMF: Credit losses to hit $4.1 trillion worldwide through 2010

The International Monetary Fund just released its latest Global Financial Stability Report. You can download the entire, mammoth 237-page PDF here if you're so inclined. But the headline is that the IMF has increased its estimate of the ultimate cost of the credit crisis. The organization now says the crisis could ultimately cost $4.1 trillion through the end of 2010; U.S. losses alone were estimated at $2.7 trillion -- up from a $2.2 trillion estimate in January and a $1.4 trillion estimate in October. Those figures include losses to be shouldered by all manner of financial entities, from banks and insurers to pension funds and other investors.


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