Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: BigBull who wrote (87573)	2/17/2001 3:37:36 PM
From: diana g	Read Replies (1) of 95453

IMF Forecast of 1.7% US growth '01 "...did not factor in recent interest rate cuts and proposals to cut taxes..." dailynews.yahoo.com Saturday February 17 12:51 PM ET Tax Cuts Not in IMF U.S. Growth Estimate PALERMO, Italy (Reuters) - Italian central bank Governor Antonio Fazio confirmed on Saturday that the International Monetary Fund (news - web sites) saw U.S. growth in 2001 at around 1.7 percent but the estimate did not factor in recent interest rate cuts and proposals to cut taxes. ``The estimate made at around that level does not take into account a recovery which may come from monetary policy and the possible expansion of fiscal policy,'' Fazio told a news conference. Fazio was speaking after a meeting of G7 finance ministers and central bankers in Palermo, Sicily. Italy is current G7 chairman. Italian Finance Minister Vincenzo Visco said the IMF saw a recovery in the U.S. economy in the second half of 2001 and the U.S economy was ``not in a dangerous situation.'' Officials told Reuters earlier on Saturday that the IMF was slashing its forecast for U.S. growth this year almost in half to 1.7 percent.

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