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Growth in the 15 eurozone countries will be twice as low this year as in 2006 (Photo: European Commission)

IMF predicts growth slowdown for eurozone

The International Monetary Fund on Wednesday (9 April) cut its growth forecast for the EU countries using the euro and called on the European Central Bank to cut its interest rates to help fend off the economic slowdown.

Growth in the 15-member eurozone countries is likely to sink to 1.4 percent in 2008 and 1.2 percent in 2009, compared to 2.6 percent last year and 2.8 percent in 2006, according to the IMF's latest World Economic Outlook.

"Activity in western Europe is … projecte...

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Growth in the 15 eurozone countries will be twice as low this year as in 2006 (Photo: European Commission)

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