As many of you know all too well, this sector is particularly troubled as layoffs and business closures have led to vacant retail, office, and industrial spaces across the United States and refinancing options for maturing loans remain quite limited. I have to admit, I was originally quite skeptical about the TALF.
In its October 2013 World Economic Outlook, the International Monetary Fund (IMF) projected that growth in emerging markets would slow from 4,9 per cent in 2012 to 4,5 per cent this year and pick up to 5,1 per cent next year, whereas at the same time, developed economies would accelerate from 1,2 per cent this year to 2,0 per cent in 2014.