The head of the International Monetary Fund has warned the global economy is growing more slowly than expected.
Managing director Christine Lagarde said in Pretoria, South Africa, the IMF would lower its forecast for global growth in 2012 later this month, as the crisis in Europe threatens other economies, including those in Africa.
She said a report will be issued on 25 or 26 January. Global growth was previously estimated at 4.0% in September.
''We should be prepared for a 2012 that will not be an easy journey,'' said Ms Lagarde.
''We will be vigilant in 2012 in respect to anything that looks like domestic protectionism, or countries not adopting an international cooperative approach, which is in our view absolutely necessary,'' she added.