IMF Forecasts Good Global Growth, Low Inflation: The global economy is expected to expand this year at a satisfactory pace without troubling inflationary pressures, the International Monetary Fund said. In its semiannual assessment of the World Economic Outlook, the IMF said that activity in industrial countries has slowed from last year as policy-makers focused correctly on keeping price pressures in check. Growth in industrial countries was seen slowing to 2.5% this year and 2.4% in 1996 from 3.1% last year. Overall, it said global output would rise 3.7% this year from 3.6% in 1994. For 1996, world growth was seen at 4.1%. At the same time, the report made clear that the global economy faced troubling challenges and carried excess baggage.