Most Rich Countries Stagnant or Near Recession -- IMF.

Most of the world's advanced economies are at a standstill or on the brink of recession and policy-makers need aggressive action to avert a deep global downturn, a top IMF official said on Thursday.

"Nearing the end of the year's third quarter, most advanced economies are either virtually stagnant or on the verge of recession, while underlying inflation risks are becoming increasingly well-contained," John Lipsky, first deputy managing director of the International Monetary Fund, said in a speech to the Center for Strategic and International Studies.

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