04.05.2009
The problems facing the world economy are well-known. The only point that has become clearer over the last few months is that the downturn in the international economy is much deeper than was thought earlier. Prospects of recovery have receded to 2010 at best. This is the worst recession in 60 years and is resulting in total loss of confidence which threatens a downward spiral if not corrected. The pain is being felt both in industrialized and in developing countries. 1025
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