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24/11/2011
WASHINGTON (Reuters)
Sri Mulyani Indrawati said Managing Director of the World Bank said developing countries will grow weaker over the next two years with the worsening debt crisis in the euro area over the importance of making the best use of aid at least.
Indrawati told Reuters that the biggest challenge for developing countries now is how to reduce the consequences of the crisis, the euro area, which could lead to reduced trade, remittances and investment.
It said that the focus should be politicians in Europe to end the uncertainty surrounding the crisis of the euro area, which increased the cost of borrowing around the world. "I end this situation of uncertainty is very important." She added, "For many developing countries the hardest because the option to choose between financial stability and continuity."
Indrawati said that the area of finance in developing countries is already limited because the current crisis comes after a short time of the last global financial crisis in 2009, which exhausted the poor countries. Indrawati's comments come ahead of a meeting in Busan in South Korea on the effectiveness of aid.
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24/11/2011
WASHINGTON (Reuters)
Sri Mulyani Indrawati said Managing Director of the World Bank said developing countries will grow weaker over the next two years with the worsening debt crisis in the euro area over the importance of making the best use of aid at least.
Indrawati told Reuters that the biggest challenge for developing countries now is how to reduce the consequences of the crisis, the euro area, which could lead to reduced trade, remittances and investment.
It said that the focus should be politicians in Europe to end the uncertainty surrounding the crisis of the euro area, which increased the cost of borrowing around the world. "I end this situation of uncertainty is very important." She added, "For many developing countries the hardest because the option to choose between financial stability and continuity."
Indrawati said that the area of finance in developing countries is already limited because the current crisis comes after a short time of the last global financial crisis in 2009, which exhausted the poor countries. Indrawati's comments come ahead of a meeting in Busan in South Korea on the effectiveness of aid.
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