The well-documented slow-down in European growth

Date: 18/04/1996

has led the International Monetary Fund to scale back its world growth forecast for 1996 from 4.1&percent; to 3.8&percent;. Nevertheless, the IMF said in its annual report that general economic conditions militated against recession. It is predicting German growth of just 1&percent; this year, with 1.3&percent; for France, rising to 2.9&percent; and 2.8&percent; respectively in 1997.