Résumé
Although not at the center of the world's economy, developing countries are at its mercy dependent on trade investment and aid; never is this felt more than in times of crisis. A further concern, common among developing countries, is a lack of diversification in export markets. But the impact of the financial crisis isn't limited to export markets; national incomes are threatened on several fronts. Developing countries are being told to prepare for steep declines in aid donations and remittances. Many developing countries are looking toward strategic planning and restructuring of financial systems, to bolster their economies in difficult times. Challenge is the need to balance the governments need for revenue and reducing the cost of doing business. Ghana relies heavily on the EU, the US and Asia for its export markets, remittances, tourism and development aid. A steep decline in these source will severely affect the nations economy.
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Extrait
The Developing Crisis
WRITES
Forum EditorialThe stark reality is that developing countries must prepare for a drop in trade, capital flows, remittances, domestic investment, as well as a slowdown in growth.'The words of Robert Zoellick, President of the World Bank, are as realistic as they are ominous. Although not at the centre of the world's economy, developing countries are at its mercy, dependent on trade, investment and aid; never is this felt more than in times of crisis.Trade finance, fundamental to the working of the global financial system, is about four things: payment facilitation, financing, risk mitigation and the timely flow of information. The effects of the global financial crisis have been felt on all counts. And naturally, with the current emphasis on nsk-avoidance, the consequences of...Voir le contenu complet de ce document
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