Financial Times FT.com

Emerging markets ‘to help ease downturn’

By Krishna Guha in Washington

Published: January 9 2008 03:31 | Last updated: January 9 2008 03:31

Emerging markets will act as shock absorbers for the global economy, cushioning the impact of the US downturn and ensuring the world continues to grow at a decent rate this year, the World Bank says in a report published on Tuesday.

The Global Economic Prospects study forecasts that growth in developing countries will slow only a fraction this year, to 7.1 per cent from 7.4 per cent, and their strong performance will underpin global growth of 3.3 per cent in dollar terms.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this