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As the cloud of the Iraq war was gradually fading away, Managing Director of the International Monetary Fund (IMF) Horst Kohler on Thursday said there is no need to get overly pessimistic about the world economy.
Appearing slightly more optimistic than IMF chief economist Kenneth Rogoff, Kohler told the press that he is quite satisfied with the current situation.
He said a short war in Iraq is a "good news" for the world economy since the oil price is dropping back.
Kohler also talked about the economic situation over the past years, saying that "the global economy had demonstrated such a resilience."
He said that in the last 2-3 years, the world economy has experienced a series of shocks, including burst of the bubble, the September 11 terrorist attacks, corporate scandals and the current war.
"We should not be complacent, but we also should not be overly pessimistic," said Kohler, adding that an growth rate of 3 percent this year and 4 percent next year will be a good development for the world economy.
When releasing the latest semi-annual "World Economic Outlook" report, IMF chief economist Rogoff said Wednesday that the world economy is suffering from a number of uncertainties, including security concerns, the war in Iraq, stock market volatility and a possible housing bust.
(Xinhua News Agency April 11, 2003)
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