World Bank warns economic slowdown will 'hit developing countries hard'

BUSINESS DAILY © FRANCE 24

Another economic forecast has painted a grim picture for global growth, shining a spotlight on the impact on developing economies. The World Bank's Global Economic Prospects report cuts forecasts for 95 percent of advanced economies and nearly 70 percent of emerging market and developing economies. David Malpass, World Bank Group President, told FRANCE 24 that high levels of inflation in Europe and the US "transmit into the developing countries", especially when it comes to energy and fertiliser prices.