"Global growth in 2009 will slow to the weakest rate since records became available in 1970, the World Bank said yesterday.
"'The freezing of credit markets, collapse of stock markets, large shifts in exchange rates and commodities prices and unprecedented policy actions have combined to create an extremely uncertain environment for market participants and forecasters alike,' the Bank said in releasing its annual Global Economic Prospects report in Washington.
"International trade will shrink in 2009 for the first time in more than 25 years as economic growth slows and commodity prices slide, the Bank said."
The article is based on the newly published Global Economic Prospects 2009.
Check out the World Bank news website for the announcement of the Report, with videos of introductory comments by Bank leaders.
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