IMF economist - worst to come

If the IMF doesn't need a bailout itself

International Monetary Fund chief economist Olivier Blanchard said we won't get out of the recession until 2010.

He then added this lovely bit of cheer:

Withdrawals of capital leading to problems of liquidity "can be so significant that the IMF alone cannot counter them," he said, adding that massive withdrawals of investments from emerging countries could represent "hundreds of billions of dollars.

"We do not have this money. We never had it," he said.

The IMF had spent a fifth of its 250 billion dollar (200 billion euro) fund in the last two weeks, Blanchard added.

Geez, it sounds like AIG.