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Thu 06 Jun 2009Economy to shrink by 13.5%, says bleak IMF assessment
THE IRISH banks face losses of €35 billion to the end of 2010, the economy will shrink by 13.5 per cent from 2008 to 2010 and unemployment will climb to 15.5 per cent next year, according to a bleak assessment by the International Monetary Fund (IMF).
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