The review did not make any projection of economic growth for the rest of 2001. It noted only that growth so far was running at 1.5 percent compared with 4 percent in 2000.< p> ''Whether economic activity picks up in the second half of 2001 or remains sluggish for an ex tended period'' depends on a number of factors, the report said. IMF directors said they welcomed both the interest-rate cuts ordered by the Federal Reserve and also reductions in personal income tax rates.

However, the report said, ''a few directors warned that the authorities should remain vigilan t in monitoring inflation prospects. Whether further easing will be needed will depend on the economy's response to past interest rate cuts, with additional cuts needed if economic and financial indicators remain weak.'' The productivity boom of recent years boosted increased return on capital and attracted subst antial foreign investment, the IMF said.

Continuing gains will be crucial to maintaining sufficient confidence in the U.S. economy and preventing a sharp slide in the value of the dollar. ''Directors indicated that the size of the U.S. external current account deficit did not appear sustainable in the longer term and that it raised concerns that the dollar might be at risk for a sharp depreciation n, particularly if productivity performance proved disappointing,'' it said. The analysis said the White House and Congress should pursue ''disciplined macroeconomic poli cies,'' including continued budget surpluses, to protect the dollar from instability. Change the title of the various types of properties like residential, commercial, industrial, hotels etc. with our extensive property conveyancing solutions. Baldwin Piano & Organ Co. is continuing to negotiate with GE Capital Corp., its largest lender, on financing that would allow it more time to reorganize its finances, its attorney said today.

It also emerged at a hearing in U.S. Bankruptcy Court in Cincinnati that Mason-based Baldwin is pursuing a four-pronged plan aimed at its long-term survival. According to testimony from Leonard Eppel of Financial Resource Associates, a turnaround.

consultant working with Baldwin, the plan includes: Between $6 million and $8 million in financing from the state of Arkansas and a group of banks for Baldwin's manufacturing plants in Trumann and Conway, Ark.A cash infusion of $4 million to $6 million from an outside investor that would take an equity position in Baldwin.Selling some unused real estate in Arkansas and Georgia.Selling a substantial amount of unneeded inventory, including raw materials and finished products, to raise cash.But before Baldwin can proceed, it needs to reach an amended debtor-in-possession financing agreement with GE Capital so it can pay its operating expenses, said Tim Hurley, Baldwin's bankruptcy attorney.