O'Neill: IMF forecast "off by a lot"

US - Responding to the drastically revised growth forecasts for the US in 2002 US Treasury secretary disagreed saying the forecast was "off by a lot".The IMF cut its forecasts for world growth this year and next to 2.4% down from 2.6% and 3.5% respectively.

Speaking in Washington, IMF managing director Horst Kohler spoke favourably about the swift response of major central banks in cutting lending rates and called for "a co-ordinated response by the entire international community".

The revised