21 January 2004 01:37
World Bank chief concerned about developing economies
MOSCOW. Jan 21 (Interfax) - World Bank President James Wolfensohn has announced his concern as to the prospects for
economic growth in developing countries, seeing it as incommensurate with population growth.
There is a certain forward movement in the United States, Wolfensohn said at a Wednesday press conference in Moscow.
But he is worried for growth in developing countries, as economic development has to at least keep up with expanding
populations.
The world population will have risen to 8 billion people in 25 to 30 years, much of the expansion taking place in
developing countries, he said. Economic success is imperative in such places, he said, adding that some are already
showing fairly good 4% growth.
Wolfensohn also pointed out the importance of cutting the tax burden on countries carrying large debts. At issue is
debt volume and how vulnerable a particular country is to price changes for primary commodities, he said.
The World Bank president is expecting a lot of debate on this in the coming spring and fall. [RU EUROPE EEU ASIA EMRG
WB BNK ECI GVD ENR] cf <>
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