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Article: World Bank: Developing Countries Facing Major Shortfalls
- Article from:
- Daily Mirror
- Article date:
- March 12, 2009
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Colombo, March 12 -- In advance of the G20 economic conference of advanced and large developing economies, the World Bank has issued a global forecast indicating that developing countries without adequate credit sources are facing financing shortfalls of $270 billion to $700 billion this year.
G20 finance ministers and central bank governors meet March 14-15 in London, three weeks before the leaders of the G20 are expected to meet in London on which direction to take in helping resolve a deepening global economic recession. U.S. President Obama will attend the April 2 meeting before traveling to the 60th anniversary NATO Summit April 3-4 in Strasbourg, France, and Kehl, Germany.
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