OREANDA-NEWS. March 16, 2009. The report, prepared by the World Bank for the meeting of 20G group, which will be held on Saturday, noted that most adverse consequences of the crisis could affect the developing countries.

According to the report, the continuation of the crisis could lead to economic collapse of some developing countries, which total number is 129. As it is expected, in 2009, these countries will be deprived of US270-700 billion. According to the report, many institutions, which financed the clients from the developing countries, virtually disappeared.

At the same time, even developing countries with the access to financial markets, suffer high borrowing costs and receive lower investment, which leads to slower growth in future. Most problematic is situation in the countries badly dependant on the remittances from the guest-workers.

Among these states are Tajikistan and Moldova, where remittances amount to 45% and 38% of their GDP, as well as Kyrgyzstan and Armenia. The main source of remittances for these countries is Russia, which itself suffered almost 35-percent drop in the exchange rate of ruble to U.S. dollar.