Developing Country Growth Resilient In The Face Of Financial Turmoil

In the wake of financial turmoil in high income countries and amidst high food and energy prices, developing countries’ growth is easing but is still robust.
Private capital flows to emerging markets, which hit a record $1 trillion in 2007, are expected to drop to around $800 billion by 2009, which would still be the second highest level ever, says a new World Bank report.
Global Development Finance 2008 predicts a slowdown in world GDP growth from 3.7 percent in 2007 to 2.7 percent in 2008, while growth in developing countries is expected to slow from an extraordinary 7.8% in 2007 to 6.5 % in 2008.
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