Credit strains to pare global growth: IMF

Strains in financial markets will cause global growth to moderate, but strength in emerging economies should help sustain the global expansion, the International Monetary Fund's No 2 official said on Monday.
John Lipsky, IMF first deputy managing director, told a Latin American business group the IMF was refining forecasts for its next World Economic Outlook, due in about a month.
"While the strains in global financial markets have not been played out fully, some moderation in global growth is to be expected in the coming year. Of course, it is not yet possible to reach firm conclusions about the exact magnitude," Lipsky said in prepared remarks to the American Association of the Chambers of Commerce in Latin America.