G-20 Meeting London: World Bank says 2009 will be year of firsts; first global GDP decline since World War II; first trade decline of this size in 80 years; first time that recovery must be global
Mar 14th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
G-20 Meeting London: The President of the World Bank, Robert Zoellick, warned on Friday, that G-20 countries risked "doing too little, too late" to repair the global economy. Finance Ministers begin a weekend meeting in London Saturday, in preparation for the summit of the leaders of the principal developed and emerging countries in early April. Zoellick said 2009 is shaping up to be a very dangerous year with a waves of challenges; a year of firsts - the first global GDP decline since World War II; the first trade decline of this size in 80 years, and it is the first time that recovery must be global.