German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico.
World Bank: Global Trade to Hit 80-Year Low in 2009
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The World Bank warned the global economy will shrink this year for the first time since World War II, and sees trade at its lowest point in 80 years.
The World Bank also said Sunday the growing global financial crisis will create a multibillion-dollar financing shortfall for poor and developing nations, BGNES reported.
A group of 129 countries face a shortfall of USD 270 to USD 700 billion this year, the World Bank says.
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