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World Bank Predicts '09 Economic Crisis

The World Bank has released a report that predicts the international economy will shrink for the first time since WWII.

Global trade has been predicted to shrink to it's lowest point in 80 years due to junk morgages that began in the United States.

The bank did not provide a specific estimate but in an interview with The New York Times, the World Bank. said its economists would be publishing one in the next several weeks.

The report also announced a meeting Sunday for 20 of the world's most industrialized nations.

According to The Star Tribune, a group of 129 countries face a shortfall of $270 to $700 billion this year, the World Bank says.

The economic crisis has affected many different countries in varying levels of severity.