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UN / GLOBAL ECONOMIC PROSPECTS
STORY: UN / GLOBAL ECONOMIC PROSPECTS 2010
TRT: 1.50
SOURCE: WORLD BANK
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: JANUARY 2010, WASHINGTON D.C. / FILE
FILE—OCTOBER 2008, MUMBAI,
1.Wide shot, street scene
FILE—NOVEMBER 2009, ALBANIA
2.Various shots, street scene
JANUARY 2010, WASHINGTON D.C.
3. SOUNDBITE (English) Andrew Burns, lead author Global Economic Prospects 2010:
“This is one of the big challenges facing developing and high income countries, how to withdraw the fiscal stimulus, withdraw the monetary stimulus that’s been put into the global economy without killing the recovery.”
FILE—MAY 2009, PORT DJIBOUTI, ETHIOPIA
4. Various shots, loading crates for shipping
FILE—AUGUST 2009, TBILISI, GEORGIA
5. Various shots, shoppers in electronics store
FILE—MAY 2009, ETHIOPIA
6.Various shots, farmers wide
21 JANUARY 2010, WASHINGTON D.C.
7.SOUNDBITE (English) Andrew Burns, lead author Global Economic Prospects 2010:
“The revenues of poor government, they’re declining very rapidly and they are not going to be able to even meet previous programs that were put in place, let alone be able to step up and meet additional demands made upon them.”
FILE—JUNE 2009, FORMOSA, BRAZIL
8.Wide shot, exterior Bank
FILE—JUNE 2009, NANNING, CHINA
9.Wide shot, exterior Bank
FILE—JUNE 2009, FORMOSA, BRAZIL
10.Med shot, ATM inside Bank
FILE—AUGUST 2009, TBILISI, GEORGIA
11. Various shots, interior soup kitchen wide
JANUARY 2010, WASHINGTON D.C.
12.SOUNDBITE (English) Andrew Burns, lead author Global Economic Prospects 2010:
“It is possible in these conditions, with non-performing loans, growing companies in difficulty meeting their balance sheets, for there to be a secondary crisis within that region.”
FILE-JUNE 2009, NANNING, CHINA
Various shots, mopeds in street
The worst of the financial crisis is over but the global economic recovery under way is fragile and could slow later this year.
SOUNDBITE (English) Andrew Burns, lead author Global Economic Prospects 2010:
“This is one of the big challenges facing developing and high income countries, how to withdraw the fiscal stimulus, withdraw the monetary stimulus that’s been put into the global economy without killing the recovery.”
Globally, economies are expected to grow 2.7 percent this year. Projections for 2011 vary from 2.6 percent growth to almost 4 percent because it is hard to predict when stimulus packages will be withdrawn, and how confident businesses and consumers will be.
What is certain is the crisis has taken a toll on developing countries, propelling into extreme poverty 64 million people who might otherwise have escaped it, straining already weak economies.
SOUNDBITE (English) Andrew Burns, lead author Global Economic Prospects 2010:
“The revenues of poor government, they’re declining very rapidly and they are not going to be able to even meet previous programs that were put in place, let alone be able to step up and meet additional demands made upon them.”
Developing countries will have a harder time raising capital in the next five to ten years, the report predicts, and it will be more expensive, as a result of increased prudence and regulation.
Hardest hit by the crisis is Europe and Central Asia. And they could be hit again.
SOUNDBITE (English) Andrew Burns, lead author Global Economic Prospects 2010:
“It is possible in these conditions, with non-performing loans, growing companies in difficulty meeting their balance sheets, for there to be a secondary crisis within that region.”
One a positive note, China led East Asia’s rebound last year with growth of 8.4 percent and is expected to grow 9 percent this year.
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