7 April 2003, 16:18  IMF CUTS GERMAN 2003 GDP FORECAST TO 0.4%

LONDON, April 7 - The International Monetary Fund has cut its forecast for German economic growth to 0.4 percent from 0.7 percent, a G7 source said on Monday. The new figure will be included in the IMF's World Econmic Outlook due to be presented this week, the source said. In early March the IMF had still been predicting German growth of 0.7 percent for 2003. IMF Managing Director Horst Koehler had said in March that the Iraq war would act as a barrier to recovery and that a global recession could not be ruled out if a long war pushed up oil prices and hit consumer sentiment.//

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