The World Bank's annual publication, Global Development Finance , tracks the annual movement of international capital flows to developing countries.
Global Development Finance 1999 notes that the financial crisis in emerging markets is likely to be more extensive and longer-lasting than previously predicted. GDF 1999 predicts that average GDP growth in developing and transition countries may fall to 1.5 percent in 1999, making it the lowest growth since 1982, and projects a modest recovery in the range of 3.6 percent by 2000.
The Report also shows how the crisis has severely reduced flows of international capital to developing countries, and how development aid has fallen to its lowest level in over 50 years.
GDF 1999 is a two-volume set -- Volume I (Analysis and Summary Tables) and Volume II (Country Tables). Both volumes are available in print, CD-ROM, and diskette. Volume I can be purchased separately; volume II is available only as part of the set. Transcript and powerpoint presentation from Washington, D.C. launch.
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"This sobering forecast reflects declining trade growth, slumping commodity prices, and tightened long-term financing, which have hurt most developing countries."
— Joseph E. Stiglitz, Former Senior Vice President
and Chief Economist, The World Bank
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