No end to financial crisis before 2010, IMF chief says

The International Monetary Fund's managing director, Dominique Strauss-Kahn (pictured), said he expects no end to the financial crisis before next year but predicts positive growth by mid-2010.The International Monetary Fund's managing director, Dominique Strauss-Kahn, said Wednesday that he does not expect an end to the financial crisis before next year but predicts positive growth by the middle of 2010. In an interview Strauss-Kahn said a major problem is that global credit channels remain blocked. Without a freer flow of credit, it will be difficult to see a true recovery from the financial crisis, he said.Strauss-Kahn acknowledged that stocks have been on the rebound, but said: "For me, the stock market has never been a true indicator that things are going well."A more important factor, he said, will be the return of consumer confidence and a corresponding rise in spending.