The economic growth of developing countries will be lower than expected this year. Up until recently the World Bank calculated growth to be more than two percent, now that figure is just one percent.

If figures for China and India are removed then developing countries face an economic shrinkage of 1.5 percent.

One of the reasons why developing countries are doing so poorly is because they are receiving less funds from rich countries, which means they have less cash to combat the financial crises in their own countries.

The world economy will shrink by 3 percent.

Better figures are expected next year, when the growth in developing countries should be 4.4 percent and worldwide 2 percent.

China and India are among the few countries in the world where the economy is still doing well.

China is expected to see more than 7 percent growth this year. In India this figure is five percent this year and 8 percent next year.