Cheer from the World Bank
While many industrialized nations have wobbly economies, the less developed countries (LDCs) are enjoying a period of good health that is likely to continue into the mid-1980s. That is the substance of an unexpectedly optimistic report last week by the World Bank. The economies of the non-oil producing developing countries expanded 4.9% last year, vs. 3.5% for developed nations. One reason is that bountiful harvests have substantially eased food shortages, especially in Southeast Asia. The effective use made of World Bank agricultural loans, which have increased 40% since 1973, was especially praised. The LDCs also benefited from...
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