Turbulent economy in focus as finance chiefs gather

0 Comments | AFP, April, 2008

WASHINGTON (AFP) — With the world economy threatened by a US housing meltdown, the dollar at historic lows and global imbalances chafing, global finance chiefs will feel the heat at a gathering that has been in recent years a self-congratulatory exercise.

Top finance officials from the Group of Seven wealthy nations are set to discuss the turmoil in markets and the economy ahead of spring meetings of the International Monetary Fund and the World Bank in Washington.

The turmoil in financial markets and the weaker outlook for the global economy have cast a pall over the meetings, which in the recent past has allowed officials to mostly pat each other on the back.

The IMF confirmed it will lower its 2008 global economic growth forecast by a half percentage...