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The
World Bank's annual publication, Global
Development Finance , tracks the annual
movement of international capital flows to
developing countries.
Global
Development Finance 1999 notes that the
financial crisis in emerging markets is
likely to be more extensive and
longer-lasting than previously predicted.
GDF 1999 predicts that average GDP growth in
developing and transition countries may fall
to 1.5 percent in 1999, making it the lowest
growth since 1982, and projects a modest
recovery in the range of 3.6 percent by
2000.
The
Report also shows how the crisis has
severely reduced flows of international
capital to developing countries, and how
development aid has fallen to its lowest
level in over 50 years.
GDF
1999 is a two-volume set --
Volume
I (Analysis and Summary Tables)
and Volume
II (Country Tables). Both volumes
are available in print, CD-ROM, and
diskette. Volume I can be purchased
separately; volume II is available only as
part of the set. Transcript and powerpoint
presentation from Washington,
D.C. launch.
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"This
sobering forecast reflects declining
trade growth, slumping commodity
prices, and tightened long-term
financing, which have hurt most
developing countries."
—
Joseph E. Stiglitz, Former
Senior Vice President
and Chief Economist, The World Bank
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