Monthly Briefing on the World Economic Situation and Prospects

November 2008 Summary: In response to the intensified global financial crisis, a large number of countries adopted extensive emergency plans in October 2008, following a more comprehensive and internationally concerted approach.

October 2008 Summary:? The world economy is facing the most severe financial crisis since the Great Depression of the last century. The risk for a global recession has heightened significantly and volatility of commodity prices h