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Section: General News - The Paris-based Organization for Economic Co-operation and Development, or OECD, predicted that the economies of its member countries will contract by 4.3 percent this year due to the deepening financial crisis and a collapse in world trade.
But the 30-member group of mostly industrialized nations, including the United States, said government intervention in the banking industry and the form of fiscal stimulus could facilitate faster economic recovery.
This is OECD Chief Economist Klaus Schmidt-Hebbel, speaking from Paris to an audience here in Washington.
"The bottom line of our analysis, our forecast, is that we think there …