IMF predicts global recession

The International Monetary Fund predicts a major slowdown in world economy, led by the United States and some of the wealthiest nations in the world.

According to the IMF's predictions, after growing 5% in 2007, we will fall to 3.9% for this year and just 3% next year.

The news added to the feeling of uncertainty in financial markets, which in the morning had celebrated the half point reduction of central banks' interest rates in the United States, England, Switzerland and the Central European Bank, among others.

In Colombia, as in the rest of the world, stocks headed downward. This creates an opportunity for investors to buy good stocks at potentially bargain prices.

Stocks from historically solid companies, with good potential for growth, have gone down as much as 20%, which motivates buyers.