IMF says poor countries suffering from downturn

The International Monetary Fund (IMF) has warned that the world\'s poorest countries are beginning to be hit by the global financial crisis.



The IMF said they are likely to require US$25B in additional financing this year.



The IMF has described the situation as the third wave of the downturn; after first affecting the advanced and then the emerging economies. It is calling on donor countries not to cut back on their support.



In a new report, the IMF said poor countries face greater exposure to the current crisis because they are more integrated into the international economy than they used to be.



The IMF also said they are likely to feel the impact through a downturn in trade and falls in foreign investment and remittances.