The World Economic Situation and Prospects 2009 discusses the root causes of the financial and economic crisis that is rapidly deepening and spreading around the world and labels this as "a story foretold" since previous issues of the World Economic Situation and Prospects warned for the mounting risks of a global crisis well ahead of its occurrence. The report discusses how developing countries are being affected through trade and financial channels. By end-2008, the crisis intensified. To put an end to the ensuing fire sale in asset markets, free fall in global trade and fallout in global aggregate demand, the report calls for massive, globally-coordinated monetary and fiscal stimuli and…
World Economic Situation and Prospects 2009
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