Double-dip recession unlikely: World Bank chief

World Bank President said a double-dip economic recession was unlikely.

Double-dip recession unlikely: World Bank chief

World Bank President Robert Zoellick said on Friday a double-dip economic recession was unlikely but there still was a sense of uncertainty as the world economy emerges from recession.

"The world economy is no longer staring into the abyss but we're definitely not out of the woods by any means," Zoellick told a meeting of the Bretton Woods Committee. "I don't believe a double-dip is likely but the pace of recovery is going to be quite uncertain."

He said as economies recover there were also hidden dangers and re-pricing of sovereign credit risk would be a challenge in 2010.

"It extends beyond Greece and in the case of the U.S., I think this will also be an issue for states and municipalities," he added.

Reuters

Last Mod: 26 Şubat 2010, 19:13
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