http://www.abc.net.au/ra/newsdaily/s344736.htm
The International Monetary Fund has issued a bleak outlook for the Japanese economy, forecasting a recession this year that could worsen the economic downturn gripping the global economy.
In its annual assessment of Japan's economy, the IMF forecast that economic activity would contract by 0.2 per cent in Japan this year, after an earlier forecast of 0.6 per cent growth.
The IMF said it was "concerned that Japan could re-enter a cycle of slowing activity, rising bankruptcies, and a deteriorating banking system, which would, in turn, exacerbate the global downturn".
(11/08/01, 13:50:51 AEST)
http://www.abc.net.au/ra/newsdaily/s344736.htm
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