The World Bank - Working for a world free of poverty
This blog is maintained by the South Asia Region of the World Bank Group. Its goal is to exchange ideas on how to end poverty in Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.
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The global financial crisis hit South Asia at a time when it was barely recovering from a severe terms of trade shock resulting from the global food and fuel price crisis.The food and fuel price shocks had badly affected South Asia, with cumulative income loss ranging from 34 percent of 2002 GDP for Maldives to 8 percent for Bangladesh. Current account and fiscal balances worsened sharply and inflation surged to unprecedented levels.