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The World Bank warned that high borrowing costs have "changed dramatically" the need for developing nations to boost sluggish economic growth. The multilateral lender's latest warning comes as international bond sales from emerging market governments hit an all-time record of $47 billion in January, led by less risky emerging economies such as Saudi Arabia, Mexico and Romania. Kose added that faster growth, especially a real growth rate higher than the real cost of borrowing, could prove elusive.

Saudi arabiaCity ofUnited kingdomAlexandra hudsonLibby georgeKarin stroheckerAyhan koseMark johnWorld bankGlobal economic prospectsMiddle eastCommon frameworkEmerging marketWorld bankThe world bankAyhan kose