World Bank sees most economies in deeper slump
22 Jun 2009, 0924 hrs IST, REUTERS
SEOUL: The World Bank warned on Monday prospects for the global economy
remained "unusually uncertain" despite recent signs of improvement in
parts of the
world and cut its 2009 growth forecasts for most economies.
The World Bank, which has recently cut its forecast for the global economy to a contraction of 2.9 percent from a projection for a 1.7 percent decline set in March, released details on individual economies for the first time on Monday.
It also called on the governments around the world for "vigilance" in drawing up exit strategy to reverse the recently expansionary monetary and fiscal policy once the world economy takes off for recovery.
The bank said in a Global Development Finance report released on the sidelines of an international conference in Seoul that the unprecedented expansionary policy could result in heavy adverse effects on the future policy if maintained after the recovery.
22 Jun 2009, 0924 hrs IST, REUTERS
SEOUL: The World Bank warned on Monday prospects for the global economy
remained "unusually uncertain" despite recent signs of improvement in
parts of the
world and cut its 2009 growth forecasts for most economies.
The World Bank, which has recently cut its forecast for the global economy to a contraction of 2.9 percent from a projection for a 1.7 percent decline set in March, released details on individual economies for the first time on Monday.
It also called on the governments around the world for "vigilance" in drawing up exit strategy to reverse the recently expansionary monetary and fiscal policy once the world economy takes off for recovery.
The bank said in a Global Development Finance report released on the sidelines of an international conference in Seoul that the unprecedented expansionary policy could result in heavy adverse effects on the future policy if maintained after the recovery.
