Swimming against the tide: How developing countries are coping with the global crisis
In 2009 the global economy will contract for the first time since World War II, according to a recent World Bank released study. What’s worse, for developing countries, the World Bank growth prospects in this newest report are dismal
According to the Bank’s research, the number of people living below the poverty line is expected to increase by several million worldwide as credit becomes more difficult to secure, global trade dwindles, and remittances decline. To combat these negative effects, the World Bank offers a number of suggestions, including increasing direct aid to developing countries who are in desperate need for this assistance to meet basic needs.
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