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The IMF has cautioned the world at large that the global economy is set to decline by 1.7% by year end while the world output would increase by a mere0.5%. With most world economies shrinking at an alarming pace, the negative growth spiraling unemployment rates , the financial sector accumulating losses recovery is expected to Longer than previously estimated. The world body has also predicted a shrunken financial sector and finances would be hard to come by-this would severely stifle the growth of developing nations while the more affluent countries will have to combat hard at reducing their budget deficits. Identifying the problems the IMf has also suggested solutions-asking governments to work on strengthening banks and continue with “short-term fiscal plans” the recession may last a little less longer.
Japan is also one of the countries badly affected by the economic and financial crisis for the past one year. The people are stressed and strained and desperately in need of some entertainment values to relax their minds. The long awaited cherry blossom season has arrived and the Tokyo’s residents can be seen out enjoying the season in their avenues under the trees. Last month, the red buds became dark and few weeks back they burst into flowers. The parks are flooded with thick blossoms and seem to be pink and white clouds. The rivers are bordered and gives pleasure to our eyes in the winter.