NewsWhore
10-07-2008, 02:30 PM
Robert Zoellick, president of the World Bank Group, says that the financial crisis affecting the US and Europe will be critical for developing nations. He says that the world needs to rethink the way it tries to solve its economic problems. According to Zoellick the crisis could affect the level of exports, foreign capital inflows, could decrease the level of investments and could affect growth. Zoellick added that some nations could have a crisis with their balance of payments.
Warning about the effects of the financial crisis, Zoellick said: "The events of September could be a tipping point for many developing countries. A drop in exports, as well as capital inflow, will trigger a falloff in investments. Deceleration of growth and deteriorating financing conditions, combined with monetary tightening, will trigger business failures and possibly banking emergencies. Some countries will slip toward balance of payments crises. As is always the case, the poorest are the most defenseless."
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/... (http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:21927606~pagePK:64257043~piPK:437376~theSitePK:4607,00.html)
More... (http://www.dr1.com/index.html#7)
Warning about the effects of the financial crisis, Zoellick said: "The events of September could be a tipping point for many developing countries. A drop in exports, as well as capital inflow, will trigger a falloff in investments. Deceleration of growth and deteriorating financing conditions, combined with monetary tightening, will trigger business failures and possibly banking emergencies. Some countries will slip toward balance of payments crises. As is always the case, the poorest are the most defenseless."
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/... (http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:21927606~pagePK:64257043~piPK:437376~theSitePK:4607,00.html)
More... (http://www.dr1.com/index.html#7)