The International Monetary Fund (IMF) has indicated that the credit crunch shows no sign of getting better. They have said that the fall in house prices and the slowing economic growth is hitting credit available to people.
They highlighted that banks are under more pressure and further cutbacks could lead to the slowdown getting worse.
It was also claimed that growing markets like China would be impacted by the credit crunch eventually.
The longer the credit crunch goes on the more effect it will have on people so lets hope the economy will turn around and hope the outlook will be bright.
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