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World Bank Triples Lending to Developing Countries
The World Bank said today (Wednesday) that it plans to triple its lending to developing nations this year in an effort to prevent a “human crisis” that has been brought about by economic turmoil.
The amount the World Bank lends to developing countries such as China, India and Brazil could reach $35 billion for the 12 months ending June 30. That’s almost triple the $13.6 billion doled out to developing countries over the last fiscal year. The bank said it is prepared to commit up to $100 billion over the next three years, with the majority of the funds to be…
13Nov2008 | Money Morning | Comments Off | ContinuedDeep Protracted Recession Coming but Important to Keep Things in Perspective
Irish writer, Joe O’Connor has been appearing on RTE’s (Ireland’s national radio station – akin to the BBC) Drivetime in recent weeks with some witty, inspiring and uplifting poetry.
His beautiful words perfectly illustrate how an economic recession or depression is not the ‘end of the world’ rather simply a period of slower or declining economic growth.
While O’Connor’s poem is focused on Ireland and the end of the Celtic Tiger, the sentiments expressed are universal and have relevance to people throughout the western world suffering from the early stages of the looming recessions.
Unfortunately, recessions can bring hard times to people materially…
8Aug2008 | The Gold Blog | Comments Off | ContinuedThe Drivers Behind Global Growth: If the U.S. economy sneezes will China, Brazil and other emerging markets catch cold?
In this week’s edition of TFN Smart Investing with Krista Das, Mike Burnick of Market Shock Trader reveals the emerging market ecomonies that will be the driving force of global growth. The following was taken from the transcript.
Krista Das: Fears of a U.S. recession and slowing growth in other developed economies such as Europe have investors worried about a spillover effect in emerging markets. In other words, if the U.S. economy sneezes will China, Brazil and other emerging markets catch cold?
My next guest says all aboard, it’s time to hop on the new emerging market locomotive. Mike Burnick is a global…
21Jan2008 | S. Oakes | Comments Off | Continued
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