As they enter the new millennium, developing countries are struggling to recover from one of their deepest recessions since World War II. 'Global Economic Prospects 2000' will improve your understanding and keep you informed of the forces shaping today's changing global economy.The report offers an in-depth analysis of the economic prospects of developing economies in the wake of the financial crisis and as they enter the new millennium. It examines the impact of the recent financial crisis on growth and poverty in the developing world and reviews economic output, trade, and financial developments in industrial economies. 'Global Economic Prospects 2000' focuses on three main issues: • how Sub-Saharan African commodity exporters and major developing country oil exporters have adjusted to the sharp swings in commodity prices since the mid-1990s; • the extent of corporate restructuring in East Asia and its role in their recovery; • the impact of the recent crisis on poverty in developing countries. As in past editions, detailed statistical tables and an analysis of developments for each of the developing country regions are included.'Global Economic Prospects 2000' provides essential information for anyone concerned with the economic developments affecting our shifting global economy.

Although the global economy is emerging from the collapse triggered by COVID-19, the recovery is likely to be subdued, and global GDP is projected to remain well below its pre-pandemic trend for a prolonged period. Several risks cloud the outlook, including those related to the pandemic and to rapidly rising debt. The pandemic has further diminished already-weak growth prospects for the next decade. Decisive policy actions will be critical in raising the likelihood of better growth outcomes while warding off worse ones. Immediate priorities include supporting vulnerable groups and ensuring a prompt and widespread vaccination process to bring the pandemic under control. Although macroeconomic policy support will continue to be important, limited fiscal policy space amid high debt highlights the need for an ambitious reform agenda that bolsters growth prospects. To address many of these challenges, global cooperation will be key. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.

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