World Bank, IMF: Crisis becoming ‘human calamity’…
WASHINGTON (AFP) – The IMF and World Bank have warned that the global economic crisis is turning into a “human calamity” and called on members to speed up pledged aid and give even more to help the most vulnerable.
At the end of spring meetings in Washington, the two Bretton Woods institutions on Sunday told their 185 member countries that the worst global slump in generations had already driven more than 50 million people into extreme poverty.
“The global economy has deteriorated dramatically … Developing countries face especially serious consequences as the financial and economic crisis turns into a human and development calamity,” the International Monetary Fund and World Bank joint development committee said in a statement.
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