Global Development Finance The Role of International Banking by The World Bank pdf free download

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Global Development Finance The Role of International Banking by The World Bank pdf free download

Global Development Finance The Role of International Banking by The World Bank pdf free download. THE WORLD ECONOMY HAS ENTERED a period of financial market turmoil, slowing growth, and heightened inflationary pressures, a reality that poses complex policy challenges for the international community. Although developing countries have weathered the storm
well thus far, they cannot afford to be complacent, particularly with unusually high uncertainty in the global macroeconomic outlook and with their growing trade and investment linkages with highincome countries.

Global Development Finance The Role of International Banking by The World Bank pdf free download

It is imperative that policy makers in both developing and high-income countries take firm actions to alleviate the impact of soaring food and energy prices on the poor while they address the longer-term challenges of financial globalization and economic interdependence. An important consequence of this growing interdependence is that developing countries are now a locomotive of world economic growth, serving to cushion the impact of the slowdown in the United States. Global growth is projected to drop to 2.7 percent in 2008, from 3.7 percent in 2007, with much of the weakness originating in high-income countries.

Global Development Finance The Role of International Banking by The World Bank pdf free download

Developing-country growth is projected to decline—from 7.8 percent in 2007 to 6.5 percent in 2008—but remain well above the average of the 1980s, 1990s, and even the recent period of 2000–05, indicating that improved underlying structural factors are influencing overall economic performance. The emerging-market asset class has moved into the mainstream in the wake of deepening financial integration across high-income and developing countries and much improved macroeconomic management in many developing countries.

Global Development Finance The Role of International Banking by The World Bank pdf free download

Private capital inflows to developing countries surged to an all-time high of $1 trillion in 2007, the fifth consecutive year of strong gains. It is important to keep in mind, however, that the bulk of private capital flows go to relatively few of the largest economies. Although some developing countries have recently gained access to the international bond market, many will continue to depend heavily on concessionary loans and grants from official sources to meet their financing needs.

Global Development Finance The Role of International Banking by The World Bank pdf free download

Thus, in the lead-up to the implementation review conference on the Monterrey Consensus of 2002 in Doha late this year, it is essential that donor countries reaffirm their commitment to fulfill the goals laid out in that consensus and make concrete progress to honor their commitments over the balance of the decade. Concurrent with the ongoing globalization of financial markets, the world is confronting dramatic increases in commodity prices. Indeed, no other issue captures the complexity of the current policy agenda facing the international community than rapid inflation in food prices, particularly for such basic items as wheat and rice.

Global Development Finance The Role of International Banking by The World Bank pdf free download

For both food and agricultural commodities, the dominant drivers of higher prices are increased demand for biofuels in the United States and Europe, the weak dollar, and increased prices of fertilizer and energy inputs. Low inventories of grains and export restrictions by a number of countries have exacerbated the problem and contributed to the price increases. Additionally, weather patterns have reduced agricultural output in some countries, and speculation by commodity market investors has also pushed up prices. The increases have been largest for grains, which during the first months of 2008, were twice as expensive as a year earlier. High food prices are now the major force behind increased inflation across developing countries—and worryingly, they are hitting the poorest people the hardest.

Global Development Finance The Role of International Banking by The World Bank pdf free download

Global Development Finance The Role of International Banking by The World Bank pdf free download


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