World Bank warns emerging nations

World Bank warns emerging nations

 

Developing countries should take steps to plan for a global economic meltdown on a par with 2008-09 if the European sovereign debt crisis escalates, the World Bank warned on Wednesday in its latest economic forecasts.

Predicting significantly slower global growth in 2012 than it expected last summer even if the eurozone muddles through its crisis, World Bank economists said that if financial markets deny funds to eurozone economies, global growth would be about 4 percentage points lower than even these figures with poorer economies far from immune.

http://link.ft.com/r/9ULF66/IILCA0/C5MKOT/B5Y9H6/L9B9HD/FW/h?a1=2012&a2=1&a3=17