World Bank: Developing Nations are Driving Growth, Risks Remain

The World Bank released a report today which projected growth in the developing world to be "more than twice the rate projected for high-income countries." Developing countries as a whole are expected to see growth of 7% in 2010, and 6% and 6.1% in 2011 and 2012 respectively, compared to 2.8% growth in high-income countries for 2010, 2.4% in 2011, and 2.7% in 2012. Sub-Saharan Africa is expected to be a major component of that growth, and is expected to be up 4.7% in 2010, 5.3% in 2011, and 5.5% in 2012.