Apr 22nd, 2009 - Wall Street Journal
TOKYO (Dow Jones)--The International Monetary Fund said Wednesday that Japan's economy will likely shrink a record 6.2% this year - worse than its previous forecast - but it also predicted a mild recovery ahead and urged a shift in Tokyo's focus to budgetary reforms.
The fund's latest World Economic Outlook underscores the severity of Japan's recession, which is worse than its U.S. or European counterparts, and considered the worst since World War II. But the report also adds to the view that the worst will be over for the Japanese economy by the end of the year.
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