THE WORLD ECONOMY

Rich countries will grow faster this year than in 1999, though a mild slowdown is expected in 2001, according to the IMF's semi-annual World Economic Outlook. America and Canada should slow the most among the G7 economies. After growing 5.2% and 4.7% respectively in 2000, they are predicted to cool to 3.2% and 2.8% next year. Though slow compared with other big economies, Japan's expansion is evidence that some of the confidence lost in the 1997-98 crisis has been regained. Having expanded by 9.9% last year, Ireland's economy will grow by a still impressive 8.7% in 2000. The IMF says Ireland will set the pace in 2001 as well, at 6.9%. Since the May report, the predictions for growth in 2000 have been revised upwards for every G7 country except France.