The report notes the threat of European nations failing to make debt payments has eased. The World Bank President says Europe and America have approved some measures to deal with economic weakness. But financial policy remains a work in progress.
He said, “So despite promising, and sometimes courageous measures taken in Europe…issues remain in the Eurozone and of course we have fiscal policy issues in the United States.”
The World Bank notes that budget deficits are decreasing in most other high-income nations. But these nations continue to carry a lot of debt compared to the size of their economies.
Developing countries are positioned for stronger growth. But they will face basic risks to economic progress over the next few years. World Bank chief Kim said he is concerned that low supplies of important grains, such as wheat and corn, could bring high food prices, hurting the poor.
The World Bank offers knowledge, assistance and loans to developing countries. Economic conditions in high-income nations affect the developing world because they are the largest and most developed markets for exports. Such nations are also the providers of investment that can fuel economic growth.
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25