IMF shrugs off recession fears

US - The IMF has said it does not expect the global economy to fall into recession as a result of the impact of the terrorist attacks on the United States.

The US economy may slow further than previously expected but "we do not believe there will have been a recession" in 2001 or 2002, according to IMF deputy managing director Ann Krueger.

"We are still on track for economic growth to accelerate in the US sometime this year, (or) early next year", said IMF deputy managing director Ann Krueger.