[Except for the Middle East. These oil-PRODUCING nations are enjoying economic growth, just as prophesied to happen at this time. Soon, these oil-rich nations will dominiate the worlds economy.]
21 April 2008
Simon Webb
Record high oil prices over $117 a barrel are slowing world economic growth, John Lipsky, first deputy managing director of the International Monetary Fund (IMF), told Reuters on Monday.
"It's dampening growth -- that's for sure, but of course it is benefiting exporters," he said.
"It's going to slow growth as we've said before. It's one of the many factors this year, globally."
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