World Bank Senior Vice President for External Affairs Marwan Muasher said in an interview Tuesday, that the global economic crisis could have a “disastrous” impact on health and school projects in the developing world unless rich nations spend a tiny fraction of stimulus measures to help the poor.
– Poor countries have been hit hard by a crisis that is not of their making and they do not have the fiscal space to deal with it because it comes hard on the heels of a severe food and energy crisis, Muasher said, adding:
– This is a global crisis and it requires global solutions. The social aspect of the crisis has been largely ignored.
Muasher repeated a World Bank call on rich nations to set aside 0,7 percent of their national wealth stimulus packages to support poor countries.
Muasher said stimulus packages approved by governments around the world “appear” to be working, but said more needs to be done to help spark a recovery.
– 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 do not end up in protectionist measures and makings sure that the poor are not left behind, noted he.
Kilde: www.worldbank.org
