A senior World Bank official announced Monday that Zimbabwe will get a $22 million grant to help the country’s battered economy.
The global economy will shrink up to 2 percent, and rapidly approved stimulus plans worldwide could spark another crash in financial markets, World Bank President Bob Zoellick projected at a forum in Belgium Saturday. Zoellick said the World Bank, an international institution that offers aid to developing nations, projects a global economic decline between 1 percent and 2 percent
Finance ministers from the Group of 20 industrialized and developing economies are meeting near London on Saturday to discuss a common approach on how to tackle the global economic crisis. The London G-20 summit on April 2 was initially going to focus on financial markets and regulation, but the deepening crisis around the world has highlighted the need for a broader economic package. This plan includes everything from stimulus packages to uneven interest rates, said Mark Malloch-Brown, British Prime Minister Gordon Brown’s envoy to the summit.