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Global economy still on the brink: World Bank

Global economy still on the brink: World Bank article image

World Bank President Robert Zoellick has warned that the global economy is still precariously placed, despite signs of recovery. "The recovery will not be as quick as one would hope. The world economy still faces significant uncertainties," he said. In particular, rising unemployment and increasing concerns over trade restrictions will have a negative effect on the frail system. Zoellick described protectionism as "low-degree fever, not yet a full influenza, but the temperature has been rising and we have to fight against that". He also flagged the needs of developing nations and said the World Bank could help re-engage the public sector.

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