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July 29, 2009

World Bank VP: Recovery Uncertain

In an interview yesterday with Reuters, Marwan Muasher, the World Bank's senior vice president for external affairs, called any type of recovery "uncertain", and warned that the poorest nations are just starting to feel the worst of the crisis.  Muasher called for rich nations to set aside 0.7 percent of their stimulus packages for poorer countries, adding:

There are other measures that need to be taken, including the cleaning of the banking sector, putting in place new financial regulations, concluding the Doha round of trade talks so we don't end up in protectionist measures and makings sure that the poor are not left behind

The road out of the crisis risks leaving the world's poor behind, no matter what shape it takes.

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