Iraq conflict 'likely to hit global growth'

In a regular report the World Bank said the Iraq conflict will probably have about the same effect on the global economy as the September 11 attack. The report also said the huge accumulation of reserve assets means the developing world is now a net exporter of capital to rich nations.

Source: Financial Times

The war with Iraq will probably have about the same moderate effect on the global economy as the September 11 terrorist attacks, the World Bank said yesterday.

Releasing its regular assessm

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