World economy?s financial losses exceed $50,000 bln.

LONDON. March 10. KAZINFORM. Financial losses of the world economy as a result of the crisis on all types of assets might have exceeded 50,000 bln dollars already, which is equivalent to the year?s global economic output, the Financial Times writes on Monday with reference to a report of the Asian Development Bank.

Asia has been hit disproportionately hard. According to the information of experts, financial losses of Asian countries, with the exception of Japan, amounted to 9,600 bln dollars in 2008. This is equal to 109 percent of the Gross Domestic Product (GDP), compared to the global average of 80-85 percent of GDP; Kazinform has learnt from Itar-Tass. According to economists, the losses of Latin American countries amounted to 2,200 bln dollars in 2008, which makes 57 percent of GDP. ?Even as Asia and Latin America have diversified their investment and trading partners, the effect of the slowdown on exports, finance and investments is earthshaking,? the report says.