Zoellick: Implications of the financial crisis will continue for years
BERLIN (AFP) - President Robert Zoellick said the World Bank said on Friday that the world will continue to suffer the negative effects of financial crisis for years.
Zoellick said at a news conference in Berlin that the World Bank estimated that 64 million people, others will fall in extreme poverty between 2009 and 2010 as a result of the crisis.
Zoellick told a press conference in Berlin, "We will continue to expect negative consequences of the economic crisis."
"With regard to developing countries it is a matter of the functions and economic growth. For many poor countries, it is very difficult perceives the pain of millions of hungry and sick with a significant impact on a generation of children for many years."
Zoellick said that the private sector will need to play a bigger role with the retreat of government stimulus plans.
He said, "with the decline of stimulus measures that we will need to assign responsibility to the private economy."
The President of the World Bank in the interest of developed countries to help emerging economies to emerge from the crisis because it could be a source of growth.
The interdependence is an essential factor in the economic world today. And help the developing world during these difficult times is something in all our interests."
"We hope that developing countries can also be an important source of growth in the global economy, which will be very important for Germany as an exporter."
