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sábado, 11 de outubro de 2008

Developing Countries Face Triple Hit from Food, Fuel and Financial Crises

Developing Countries Face Triple Hit from Food, Fuel and Financial Crises

October 8, 2008—Developing nations face a sudden convergence of food, fuel and financial crises as development and finance ministers gather for the World Bank and International Monetary Fund Annual Meetings October 13.
Countries already suffering food and fuel price inflation may now also see declines in exports, trade and investment as a result of financial turmoil that is becoming increasingly global, says World Bank President Robert B. Zoellick.
“While people in the developed world are focused on the financial crisis, many forget that a human crisis is rapidly unfolding in developing countries. It is pushing poor people to the brink of survival,” says Zoellick.
“The financial crisis will only make it more difficult for developing countries to protect their most vulnerable people from the impact of rising food and fuel costs.”
The number of malnourished people globally will grow by 44 million, to 967 million, in 2008, after several countries experienced double-digit food inflation, according to a new World Bank report.
The report, Rising Food and Fuel Prices: Addressing the Risks to Future Generations, is one of several being released just prior to the Annual Meetings that reveal a changing economic landscape after years of steady economic growth and poverty reduction worldwide.

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