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Thursday, 17 January, 2002, 20:51 GMT
OECD sees global recovery in 2002
The world economy is set for a strong recovery in the second quarter of 2002 the Organization for Economic Cooperation and Development (OECD) said on Thursday.

Problems such as Argentina's financial crisis and Enron's collapse not serious enough to threaten global economic stability, said the OECD's chief economist, Ignazio Visco.

But there are still risks that economic performance would undershoot forecasts issued in November.

Those forecasts predicted global gross domestic product growth would be just 1% this year before rising to 3% in 2003.

The OECD thinks the US economy was recovering faster than expected in the wake of the 11 September attacks.

Mr Visco said he believed current US interest rates were at a "sufficient" level to pull the United States out of its economic crisis.

See also:

20 Nov 01 | Business
Global economy shrinks
18 Nov 01 | Business
US recession raises global fears
27 Nov 01 | Business
Worse to come for US economy
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