Oil prices rose again in world markets as investors pump money back into commodities. Fears of inflation continue to swirl around the proposed $700 billion bailout of American financial companies.
Randall Filer, a professor of economics at Hunter College and the Graduate Center of the City University of New York, speaks with Martin Savidge about how the crisis affects the borrowing power and interest rates in developing countries. Filer also expects the crisis to subside in a few months with a boon to U.S. taxpayers.
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10/20/2008 :: 10:53:57 AM
Abrahman Mduda Says:
Yes! I agree with you from what you have stated according to Economic point of view. Because that crisis will lead into deficit of foreign currency reserve to the developing country since foreign investors suffers from financial difficulties resulted credit crunch. Iam a student at the INSTITUTE OF ACCOUNTANCY ARUSHA, ARUSHA- TANZANIA.