29/08/2001

IMF cuts economic growth forecast

The IMF has cut its forecast for world economic growth this year from 3.2 per cent to 2.8 per cent.

International news service, Reuters reported the news on Wednesday citing unnamed sources at the international lender for the prediction.

However, on Tuesday, Italian news agency ANSA reported that IMF's World Economic Outlook would predict a 3.6 per cent growth in the global economy next year.

But IMF sources said the figures were taken from a July draft that had already been revised lower, Reuters revealed.

Analysts expect revised US growth figures due on Wednesday to be lowered from 0.7 per cent to give an annualised growth rate of zero.

The WEO, which measures economies around the world, is constantly revised before the data is released. (MB)

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