World Bank sees grim era for developing countries
The World Bank, in a review of the recent global recession and its disastrous impact on the third world, said Thursday the outlook for developing nations remained grim despite evidence of recovery in industrial countries.Skip to next paragraph
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''Impetus toward development in many nations was more sharply broken by the global recession than at any time since the bank began operations nearly 40 years ago,'' it said. It added that almost as many developing countries had to reschedule their commercial debts over the past two years as in the previous 25.