Global Development Finance 2009
Sharp drop expected in capital flows to developing countries
A new report from the World Bank warns that the globe is entering a new era of slower growth. The World Bank’s new Global Development Finance Report, for 2009, looks at the prospects for an end to the world-wide downturn…and the long-term effects it will leave behind.
June 22, 2009 -- Private capital flows around the world fell sharply in 2008….and World Bank economists predict they will tighten even more this year…down from a peak two years ago of 1.2 trillion US dollars to only $363 billion this year.
Capital keeps the world’s economies moving. A drop in capital, and in economic growth, means fewer jobs, declines in trade, and cuts to the financial and social help governments provide to the neediest. This squeeze is likely to be felt for some time, especially in developing countries.
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