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If the Fed can do it . . .
Big developing countries like China, Brazil and Mexico could be getting a break from the World Bank. The Wall Street Journal reports the bank is set to cut interest rates for those areas in a deal that would also boost aid for the world's poorest nations. The World Bank would contribute as much as $3.5 billion to provide grants and no-interest loans to 80 depressed countries around the globe. The bank's still working out the details, but a final package is expected to be ready by its annual meeting October 19.
Posted on September 25, 2007 6:06 AM PT | Permalink
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