The World Bank said Monday that East Asian economies could slip back into another recession if lingering weaknesses in the banking and corporate sectors continue to be ignored.

In a semiannual report, the bank said the region's recovery from the 1997-1998 currency and financial crisis "continues at an impressive pace," with the region posting 6.9% growth in 1999 and on target to do even better in 2000.

But it also cautioned that the recovery could be derailed should structural reforms, especially in the banking and corporate sectors, not be followed through.