US leadership could be the vital spark needed to revive moribund world trade talks, said World Bank President Robert Zoellick and criticized those who support a mini-trade deal or putting the Doha effort to sleep.
US Secretary of State Hillary Clinton said she was not in discussions over the top job at the World Bank and that she was not pursing the post. Clinton is in Zambia as part of a five-day Africa trip that is being overshadowed by news that she had expressed interest in moving to head the World Bank.
G-20 Economy ministers will be meeting May 18/19 in Argentina to address commodity prices’ variations, according to Argentine sources. The meeting was agreed during the recent IMF/World Bank spring assemblies in Washington, following on Argentina’s deep concern about the “volatility” of commodity prices.
Driven in part by higher fuel costs connected to events in the Middle East and North Africa, global food prices are 36% above their levels a year ago and remain volatile, pushing people deeper into poverty, according to new World Bank Group numbers released Thursday.
Rising food prices have driven an estimated 44 million people into poverty in developing countries since last June as food costs continue to rise to near 2008 levels, according to new World Bank Group numbers released ahead of the G20 Meeting of Finance Ministers and Central Bank Governors in Paris.