Global economic growth could dip below zero for the first time in decades this year, International Monetary Fund Managing Director Dominique Strauss-Kahn warned yesterday.

"The IMF expects global growth to slow below zero this year, the worst performance in most of our lifetimes," he said at the opening of a conference in Tanzania on the impact of the world financial crisis on Africa.

"Continued deleveraging by world financial institutions, combined with a collapse in consumer and business confidence is depressing domestic demand across the world," said Mr Strauss-Kahn.

He had said last month he expected zero growth this year and his institution had released data including a 0.5 global growth forecast the month before that.

But as the crisis deepens around the world, the IMF chief said the latest projections being compiled would probably reveal negative growth for the first time in six decades.

"When we release our next package of forecasts at the spring session, that is to say next month, everything leads us to believe that it will indeed reveal a negative global growth for the first time in 60 years," he told reporters.

He said last week he saw no chance of a global recovery before 2010.

The IMF has suffered from a massive shortfall in funds to address the crisis but Mr Strauss-Kahn voiced confidence that the planned doubling of the institution's resources to be achieved at a G-20 summit in London next month.

He said he had received several commitments, including one for €786 million by Japan.

"Last week European leaders met in Berlin and decided to commit themselves to go in the same direction, I have also had some discussions with some other members, so I am confident that by the time of the summit next month, the doubling of the resources of the IMF will be achieved," he said.