The World Bank recently provided a forecast of global economy this year and what it would mean.
It is predicted that this year, the economy will shrink further and is expected to be worse for
first time since the time of the Second World War. By the mid of this year, it is expected that
industrial output will go down by as much as 15% from last year. Global trade is expected to
experience the largest fall since the Great Depression of the 30s. Developing countries have not
been spared either and they are expected to face a financial fall of about $700 billion for the
year. This is as a result of private sector creditors who seem to have shunned emerging markets.

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Posted by Shue on April 16th, 2009 :: Filed under World Bank

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