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Net capital flows to developing countries fell to $780 billion in 2008, reversing an upward trend that began in 2003 and peaked at $1,222 billion in 2007, according to a new report from the World Bank. Particularly hard hit were private capital flows, which fell by almost 40 percent. All developing regions were affected, with emerging market economies in Europe and Central Asia experiencing the sharpest downturn.

The global economic recovery that is now underway will slow later this year as the impact of fiscal stimulus wanes. Financial markets remain troubled and private sector demand lags amid high unemployment, according to a new report from the World Bank.

Worldwide spending on information technologies will continue to feel the effects of the global recession throughout 2010. According to a new forecast from IDC, worldwide IT spending will increase by just 3% in 2010 at constant currency. In the United States, IT spending is forecast to increase by less than 3%.