Monday, April 06, 2009

IMF Sets Toxic Debt at $ 4 Trillion

Toxic debts racked up by banks and insurers could spiral to $4 trillion. This is a new forecasts coming from the International Monetary Fund (IMF).

Previously, the IMF forecast U.S. toxic assets at $2.2 Trillion by the end of next year. The new assessment for the U.S. is likely to be set at $3.1 Trillion.

Nouriel Roubini set the target as $3.6 Trillion six months ago.

The term toxic asset now refers to all bad loans.

Stay tuned.
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