The Global Financial Crisis (GFC) which occurred in 2007 and 2008, is considered by
many Economists as the worst crisis the world has experienced since the Great
Depression in the 1930s. From a financial crisis which started in the United States of
America (USA), the crisis eventually led to economic downturn not only in the United
States but also in many other economies worldwide. As a result, many countries
experienced decline in production activities and increase in unemployment rate in the
labour market.

As an Economist working for the World Bank, you have been tasked to conduct a research
on ONE country that has been affected by the GFC and write a report covering the following
key areas:

  • Explanation on how the economy of the country chosen was affected by the GFC which started in USA.
  • Impacts of the GFC on the economy and the society.
  • Economic policies implemented by the Government in response to the crisis.
  • Outcome of the policies implemented and possible constraints faced in the process.

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