Hasan Tuluy, a Turkish national and a strong supporter of inclusive growth, will become the new World Bank Vice President for Latin America and the Caribbean (LAC) as of January 1st, 2012. Mr. Tuluy will oversee the Bank’s lending, knowledge, and poverty-fighting operations in the region, which totalled 9.6 billion dollars in fiscal year 2011.
While the economic crisis relentlessly ravages Europe and the United States, Latin American countries anxiously wait on the sidelines. The crisis could dampen the regional trend of solid growth during the past decade.
Latin America’s economy is forecasted to grow between 3.5% and 4% this year, which is less than previous estimates before the current global financial crisis, said World Bank representative for the region, Pamela Cox.
Latin America can help solve the global food crisis by expanding farm production, the World Bank said this weekend, and Colombia said it was on board with plans for an 'agricultural revolution'.