Poor face long recovery from recession -World Bank

Published: 16 Sep 2009 17:11:26 PST

WASHINGTON, Sept 16 - Poor countries are still feeling the consequences of the global recession despite signs that industrial and emerging economies are recovering, the World Bank said in a report on Wednesday.

"The nascent global economic recovery and improving financial market conditions have yet to provide the impetus needed to lift the economies of low-income countries from their deep economic downturn and dire financing challenge," the World Bank said in a report before a Group of 20 leaders' summit in Pittsburgh next week.

For the poorest countries without adequate fiscal space to respond to the crisis, core spending may face a funding gap of $11.6 billion in 2009 due to revenue shortfalls and increased demand for social protection, the Bank said.