At Semi-Annual Meeting, World Bank/IMF Governors Focus on Food Prices
Development Committee discusses economic overheating, development in conflict-affected states, situation in the Middle East.
Communiqué calls on Bank to expand role in agricultural development and research.
Ministers say 2011 World Development Report should stimulate assistance to conflict-affected states.
April 16, 2011—Food prices are the biggest threat today to the world’s poor, World Bank President Bob Zoellick told reporters at a press conference following the meeting of the Development Committee of the World Bank and IMF. “We are one shock away from a full-fledged crisis,” said Zoellick.
In their final communiqué, Committee members expressed concern that “overheating in some sectors, especially food and energy, is resulting in price pressures and volatility.”
See full Press Release.
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