especially in Britain and Japan. The report was penned by a top aide to IMF Managing Director Dominique Strauss-Kahn, and projects a global economic contraction well into 2010. Among the most startling figures:
-The UK will shrink by 3.8% in 2009, its biggest annual contraction since 1944. It will contract a further 0.2% in 2010.
-Japan will contract by 5.o%, Eurozone by 3.8%, US by 2.6% and the G7 as a whole by 3.2% in 2009.
-The US will eke out 0.2% growth in 2010 (Hooray! Growth!).
Buckle down ladies and gents, we're in for a long slog.