Global economy to shrink for first time since World War II
The global economy will shrink this year for the first time since World War II and the global financial crisis will make it tougher for poor and developing nations to access needed financing, the World Bank has said.
The World Bank said on Sunday that the global economy will shrink in 2009 for the first time since World War Two and estimated developing countries face a financing shortfall of 270-700 billion dollars this year.