Implications of the Global Financial Crisis for LICs—An Update (IMF)
According to an IMF report, a sharp contraction in export growth, FDI inflows, and remittances means economic growth this year is projected to be less than half its pre-crisis level.The risks to the financial sector from a domestic economic slowdown are a concern and have to be closely monitored. But growth is expected to rebound in 2010 in line with the global recovery, as rising world demand and improved access to foreign capital enable private sector growth.
