Global Development Finance 2008: The Role of International Banking

The WORLD ECONOMY has entered a period of financial market turmoil, slowing growth, and heightened inflationary pressures, a reality that poses complex policy challenges for the international community. Although developing countries have weathered the storm well thus far, they cannot afford to be complacent, particularly with unusually high uncertainty in the global macroeconomic outlook and with their growing trade and investment linkages with high income countries.