Wednesday
Jan202010
Economic Recovery An Uphill Battle, Warns World Bank Officials
Wednesday, January 20, 2010 at 9:00PM
By Antonia Aguilar-Talk Radio News Service/University of New Mexico
In a new report compiled by the World Bank, analysts predict an uphill battle in counteracting the global economic crisis.
“The recovery that we are projecting is by far not strong enough to undo the damage that was done in 2009 by the crisis,” said Hans Timmer, director of the Development Prospects Group.
The report, “Global Economic Prospects 2010 (GEP 2010): Crisis, Finance, and Growth,” outlines the global economic trends that are anticipated to effect developing countries in 2010 and predicts an increase in unemployment, lower production capacity and higher capital loss. However the report also suggests the ability for developing countries to thwart the impact of these obstacles by strengthening their own financial markets.
In a new report compiled by the World Bank, analysts predict an uphill battle in counteracting the global economic crisis.
“The recovery that we are projecting is by far not strong enough to undo the damage that was done in 2009 by the crisis,” said Hans Timmer, director of the Development Prospects Group.
The report, “Global Economic Prospects 2010 (GEP 2010): Crisis, Finance, and Growth,” outlines the global economic trends that are anticipated to effect developing countries in 2010 and predicts an increase in unemployment, lower production capacity and higher capital loss. However the report also suggests the ability for developing countries to thwart the impact of these obstacles by strengthening their own financial markets.
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