Meltdown losses of '$4 trillion'

The credit crunch could reach to the loss of around $ 4 trillion warns the International Monetary Fund (IMF), according media reports. IMF says that banks may need $1.7 trillion in additional capital to check the impact of the credit crunch.

The impact of the credit crunch is clearly visible on all the major economies of the world. Governments have came up with many stimulus packages for their economy in order to check the impact of global slowdown.

Many sectors have suffered huge loss due to the global slowdown. The job market is also affected as the companies started implementing cost cut measures. The impact even seen in the companies jobs and outsourcing.

The Banking sector is one of the worse hit sectors. Credit crunch impact was high on banking sector. Banks might need more and more bail out packages to protect themselves from the credit crunch. Hope the impact of the credit crunch will be checked in near future. This is can only be the speculation they have but reality of the credit crunch yet to witness.