| From Reuters: A sustained period of higher oil prices would significantly affect developing economies but is unlikely to derail their strong recovery since the financial crisis, a senior World bank official said on Monday.
Andrew Burns, the World Bank's manager of global economics, said a surge in the oil price could dent economic growth in developing countries by somewhere between 0.2 and 0.4 percentage points if it remained high for a year or longer..............................................Full Article: Source
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