The IMF and World Bank are preparing to discuss global economic issues.

Against the backdrop of continued global economic and financial recovery, said recently the World Bank President Robert Zoellick, senior officials are preparing to discuss other challenges, including rising food prices and fuel costs, the political unrest that is sweeping the Middle East and the risk of higher inflation in emerging markets. "This is not the time to be complacent or turn its back on international cooperation. The world needs a multilateralism that produces results, "he said during the teleconference that he gave on April 12 in anticipation of the spring meetings.

The international community should be better able not only to manage crises, but also to prevent them, including through the establishment of new exercises early warning, improved preventive measures and a more effective action. Deal with events that have shaken the Arab world over the last three months, the response of the World Bank has been the starting point for reflection "on how best to adopt economic reforms and governance in support of successful development, "said Robert Zoellick. Teams from the World Bank deployed throughout the region to address key challenges and working to support the reforms, which included increased transparency in government, freedom of association and access to information and training for the unemployed, "he said again.

The president of the World Bank stressed that unemployment was a major issue in the Middle East and noted that his institution had requested a meeting of multilateral development banks in April to discuss ways to support the region. The change of direction "will be as important as capital" for economic recovery, "said Zoellick. While economists often tend to downplay the importance of creating jobs in the short term, he noted, the fact is that it is possible to do so while simultaneously supporting the creation of jobs long term. Zoellick has stressed the importance that there was "finding ways to put people to work, give them the opportunity to contribute to the lives of their families and their country."

The Bank President also addressed the issue of global food prices which are at record levels, a problem compounded by their extreme volatility. Currently, he said, nearly a billion people worldwide are undernourished state, and every minute that passes 68 more join their ranks. The World Bank has painted the broad outlines of a plan of action to protect poor and vulnerable against the volatility of food prices and to boost production, in order to increase food security. He asked the participants to the spring meetings to adopt a number of measures aimed at increasing transparency on stocks, to exempt humanitarian aid embargoes and export, with the assistance of the World Food Programme UN, prepositioned stocks limited humanitarian purposes, in areas at high risk of famine. Zoellick reiterated the continued commitment of the World Bank for agricultural production and its willingness to seek new partners for development.
 
In addition to these issues, said Mr. Zoellick, the participants in the Spring Meetings will discuss ways to create a widespread financial stability and support emerging markets. If these meetings will begin officially on April 15, the kick was given on 11 with the publication of the IMF report on prospects for the global economy, which are the main countries and regions worldwide. The G20 finance ministers will attend a working dinner on April 14 and will meet tomorrow for a working session longer, in anticipation of the general assembly. A total of 187 members should attend meetings of spring. Zoellick will deliver a speech on the 14th, and will be followed by that of the Director General of the International Monetary Fund, Dominique Strauss-Kahn.
 


MacKenzie C. Babb
Editor
IPP Digital