Emerging markets set to suffer, says IMF head

Dominique Strauss-Kahn, the managing director of the International Monetary Fund, has said that the turmoil in the US subprime market will affect emerging market growth.

At present, impact of the turmoil is largely confined to the financial markets in North America and Europe. But Strauss-Kahn argued against suggestions that rampant growth in emerging markets such as India and China could continue unabated, saying that the effects of the crisis will be felt in such economies "probably sooner