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International Monetary Fund Chief warns of dark 2009

In what is currently one of the more blunt messages for 2009 the head of the International Monetary Fund (IMF) is suggesting that 2009 could be an even worse experience for the worldwide economy compared to 2008. The IMF believes that unless governments act in unison and pump more and more money into the financial markets there could be a serious slowdown and possible depression over the next few years.

The IMF has been particularly critical of the UK economy and the way in which the Labour government has handled the massive increase in debt which could see interest payments on national debt alone reach the £50 billion per annum mark. This interest charge would be more than the traditional UK economic budget and fully reflects the very difficult situation which the Labour Party is having to deal with at this moment in time. To be fair to the government they are in a very difficult situation because if they do nothing and economy dives yet lower they will be criticised but if they invest taxpayers money, as they are doing now, and returns take longer than expected to come through they will also face severe criticism.

It looks as though 2009 will not only be a difficult year for the worldwide economy but has the potential to be a disaster for the Labour Party unless some of their "revolutionary" rescue packages come through.

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