IMF urges world to prepare economic stimulus plan

The IMF is urging world leaders to plan for a slowing global economy. In a new report released as G20 officials are meeting in Shanghai this week, IMF said the economy was "highly vulnerable to adverse shocks". The G20 must plan for "coordinated demand support using available fiscal space to boost public investment." The IMF highlighted an economic slowdown in China as impacting the global situation. Governments may need to create new financing mechanisms to boost emerging markets and commodity exporting countries, the IMF added. In January, the IMF downgraded its forecast for global economic growth this years from 3.6% to 3.4%.