The U.S. economy will slip into a "mild recession" this year and could drag the global economy down with it, the International Monetary Fund predicted Wednesday.

In its latest World Economic Outlook, the IMF sees a 25% chance that world economic growth could fall below 3% this year and next -- "equivalent to a global recession."

The fund cut the baseline forecast for global growth in 2008 to 3.7% from the last estimate of 4.2% in January. The world economy is expected to expand 3.8% next year.

"The global expansion is losing speed in the face of a ...

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