1945

Overview

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A quarter is a long time in economics. At the annual meetings of the Fund and Bank in Prague last September the mood was upbeat. The world economy had shrugged off a series of financial shocks in emerging markets, the United States economy was continuing to forge ahead, driven by the “new economy”, Europe was at last showing signs of a robust recovery and Japan was beginning to emerge from a prolonged recession. Growth figures were being marked upwards. The only cloud on the horizon was rising oil prices.

Related Subject(s): International Trade and Finance
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