World Bank President Sounds a Warning
With rising food prices and soaring unemployment wreaking havoc across the developing world, World Bank President Robert Zoellick has some dreary news, declaring that the world is “one shock away from a full-blown crisis.”
The BBC:
Robert Zoellick cited rising food prices as the main threat to poor nations who risk “losing a generation”.
He was speaking in Washington at the end of the spring meetings of the World Bank and International Monetary Fund.
Meanwhile, G20 finance chiefs, who also met in Washington, pledged financial support to help new governments in the Middle East and North Africa.