World Bank, IMF pledge support for global growth
September 25th, 2011 - 7:18 am ICT by IANSWashington, Sep 25 (IANS) The Development Committee of the World Bank Group (WBG) and International Monetary Fund (IMF) said Saturday that the two institutions will do everything within their means to support strong, sustainable, balanced and inclusive growth in all member countries.
The turbulence in global financial markets and widespread fiscal strains have put at risk the robustness and sustainability of global economic recovery, said the communique of the meeting of Development Committee of WBG and IMF.
Volatile commodity prices and pressures on food security have brought critical challenges to all countries, said the communique. “We are alert to the possible global impacts of these issues, particularly for the poor.”
In addition, the two international institutions reaffirmed to contribute to job creation, as jobs are vital in translating growth into lasting poverty reduction and broad-based economic opportunities.
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Tags: commodity prices, critical challenges, development committee, economic opportunities, economic recovery, fiscal strains, food security, global financial markets, global growth, global impacts, international institutions, international monetary fund, international monetary fund imf, job creation, member countries, pledge support, poverty reduction, robustness, wbg, world bank group