WB, IMF Call World Community to Assist Developing Countries Due to Financial Crisis
Azerbaijan, Baku, 13 October / Trend corr. I.Khalilova /World Bank (WB) and International Monetary Fund (IMF) recognize `the relevant role of developing countries and countries with transition economy in global economyї, the Prime-TASS reported on 13 October referring to communiqué, which was published as a result of the WB and IMF meeting in Washington.
The document shows `danger due to the crisis in world financial markets, as well as continuous e growth of food and fuel pricesї.
їWe invest the obligation assumed by WB and IMF member-countries to take joint measures to restore financial stability and normal loan market managing. WB and IMF must help to prevent challenges in particular in developing countries. This will critically important to support the economic growth, struggle against poverty and achieve the millennium development goals,ї is stated in the communiqué.
The document notes that `the developing countries may face serious problemsї caused the current crisis. `The prices of fuel and other food remain high, and this leads to intensification of inflation rate in many countries, as well as delay in millennium development goalsї.
Dominick Stross-Can, Head of IMF, belies that nobody should forget about the developing countries, which face food and fuel provide problems.
їWe have faced crisis, perhaps, the most serious crisis of late. However, we should not forget about another crisis that the countries, which have food and fuel problems due to high price, face,ї Stross-Can said at the meeting of the International Monitory-Financial Committee (IMFC).
This idea was developed in the communiqué as a result of the IMFC meeting. The document shows that `financial difficulties, which lead to increase of prices of fuel and food, cause increase in the number of challenges that the developing countries face. The document envisages joint measures between developed and developing economies.
Stressing the `relevant role of developing countries in global economyї, the authors of communiqué called the `world community including WB and IMF to render financial, analytical and technical aid to these countries to strengthen their economy.
The next meeting of IMFC is scheduled for 25 April and development committeeїs for 26 April 2009 in Washington.
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