New Delhi: Ahead of the threatened US attack on Iraq, ICRA has said a "quick, localised and clean war" could add momentum to the world economy including US', even as it doubted the possibility of such a quick end.

"A quick, localised, clean and successful war in Iraq could certainly get the wheels of the US and world economy to begin turning fast," the credit rating agency ICRA said in its latest 'Money and Finance' bulletin.

Reasoning why economic growth would pick up, ICRA said oil prices, which had remained high purely because of fear of disruption, would begin to "more accurately" reflect the state of world oil demand, which would "of course, help economic growth".

Business decisions would, once the fog of war is cleared, could move rapidly forward and asset prices would recover, which would boost private investment.

ICRA, however, doubted the possibility of a quick war considering that the situation in Iraq was different from that in Afghanistan.

PTI