IMF: Russian Economy Will Shrink 6 Percent In 2009

MOSCOW (AP) — Russia's economy will contract by as much as 6 percent this year, the International Monetary Fund said on Wednesday, but would gain 0.5 percent in 2010.

The IMF view is more pessimistic than that of the World Bank, which indicated in its latest report earlier this month that there would be no signs of recovery this year and the economy would contract by 4.5 percent.

The Organization for Economic Cooperation and Development said in a report that the economy would shrink by as much as 5.6 percent this year — more than any other emerging market. ...