Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
World Bank urges action on food prices
+ -
13:58, April 14, 2008

 Related News
 World Bank proposes to make poor people benefit from commodity revenue
 World Bank: Rising food prices threaten poverty reduction
 World Bank cuts 2008 China growth forecast to 9.4%
 World Bank approves 6 mln USD grant for Cambodia to fight bird flu
 World Bank, India announce action against health project fraud
 Comment  Tell A Friend
 Print Format  Save Article
The World Bank and the International Monetary Fund (IMF) urged donors on Sunday to take immediate action to help countries seriously affected by the surging food prices.

"We urged donors to provide the needed assistance to the World Food Program to enable immediate support for countries most affected by the high food prices," said a communique released after the meeting of the Development Committee of the Bank and the IMF.

"The impact of higher commodity prices is mixed across countries depending on whether they are net importers or exporters," said the communique. "Within countries, large groups of poor people are severely affected by high food and energy prices across the developing world."

The Development Committee thus asked the World Bank and the IMF to respond to developing countries' requests for advice on management of natural resource revenues, and "to be ready to provide timely policy and financial support to vulnerable countries dealing with negative shocks including from energy and food prices."

"We welcomed the call by the World Bank President to the world community to combat hunger and malnutrition through a 'New Deal for Global Food Policy'," which combines immediate assistance with medium and long-term efforts to boost agricultural productivity in developing countries, according to the communique.

World Bank President Robert Zoellick also urged the international community "to put our money where our mouth is" and act now to help hungry people.

"It is critical that governments confirm their commitments as soon as possible and others begin to commit," Zoellick said at a press conference after the Development Committee's meeting.

"Hunger, malnutrition and food policy have formed a recurrent theme at this weekend's meetings, and I believe that we have made progress," said the World Bank chief. "But it will be important to continue to retain the focus on this as we leave Washington."

Dominique Strauss-Kahn, head of the IMF, also warned of the surging food prices, noting the high food prices can lead to starvation and shake the stability of governments, even if they have nothing to do with the increase in food cost.

"We are facing a huge problem," he said. "Thousands, hundreds of thousands of people will be starving. Children will be suffering from malnutrition, with consequences for all their lives."


  Your Message:   Most Commented:
Dalai's brag about "peace", "non-violence" is nothing but lie
"A slap in face" to Paris itself
Two-face baby worshipped as goddess
TYC, a terrorist organization much catastrophic than bin Laden's, say netizens
Netizens condemn sabotage attempts on Olympic torch relay

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved