The global economy will see "tepid" growth of 3.2 per cent even assuming a swift conclusion to the Iraq war, the International Monetary Fund warned today.
The IMF, in its semiannual World Economic Outlook, said the war was just one of several factors holding back the global economy, which the IMF said grew 3.0 per cent in 2002.
But it said the likelihood of a strong postwar snapback are slim.
The IMF baseline forecast "assumes a tepid global recovery, with normal growth only resuming sometime during the first half of 2004," IMF chief economist Mr Kenneth Rogoff.
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The report says the global economy is expected to strengthen to see a more solid 4.1 per cent growth rate in 2004.
AFP