NEW September 17, 2009 Please see our new Global Commodity Markets report, a companion publication to the Global Development Finance 2009 report that provides reviews of key commodity markets and commodity prices, along with price forecasts. Outlook summary
The financial crisis has provoked an unprecedentedly deep global recession. Growth should recover in 2010, but unemployment will remain high even in 2011. More... Forecast summary
A table summarizing the forecast. More detailed information is available here. Crisis impacts
Higher financing costs, a freezing of credit, and nervousness on the part of investors and consumers provoked a worldwide collapse in industrial production and trade. More... Global growth
The decline in output has been unprecedented in its speed and the number of countries affected. More... Commodity markets
The financial crisis accelerated the decline of commodity prices that was already underway. Prices have stabilized now, but remain much higher than they were in the 1990s. Lower food prices have helped to alleviate some of the poverty caused by the initial rise in food prices. More... Inflation
Falling commodity prices are pushing down inflation, but this effect should diminish over time and inflation is expected to stabilize. More... Economic policies
The strong intervention of monetary and fiscal authorities has helped restore stability to both financial and real-side markets. However, unwinding the monetary stimulus and dealing with growing debt are important medium-term challenges.More... External balances and vulnerabilities
Increased savings in the United States have served to reduce global imbalances and lower oil prices have helped cushion the current account impacts of reduced exports in many countries. More... Risks
Both a stronger and weaker recovery are risks. In the case of a protracted recession, external and internal vulnerabilities could accumulate resulting in further crises in some countries. More... Regional outlooks
All developing regions have been affected by the crisis, but the depth of the slowdown and the speed of recovery will depend importantly on initial conditions. More... 
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