02/07/2010
Today, Friday, on the first day of the Economics course of the 2010 FAES Campus Moreno-Dodson demands credible fiscal adjustment plans to minimise the impact of the crisis "Developed countries must keep the commitments of development aid or even increase them" "A late recovery of developed countries will mean a retreat of developing countries" "As a result of the crisis 64 million people more will live with less than 1.5 dollars per day in 2015" (width140)http://assets.fundacionfaes.org/prensa/CAMPUS2010/MORENODODSON_W1.jpg! Navacerrada (Madrid), 02.07.10.- World Bank Senior Economist, Blanca Moreno-Dodson, has participated today, Friday July 2, in the first day of the 2010 FAES Campus. In her address titled "Globalisation, Crisis and the Fight against Poverty", the expert in public finance and poverty reduction at the World Bank stressed "the necessity that all countries implement credible fiscal adjustment plans in the medium term to reaffirm confidence in macroeconomic policies and start structural reforms that guarantee growth in the long run" to minimise the impact of the crisis. Moreno-Dodson has stressed, in this sense, that "developed countries must keep the commitments of development aid or even increase them". In this context, the economist has explained that "a late recovery of developed countries will mean a retreat of developing countries as interdependences are stronger and more important every day and world balance depends on that". Moreno-Dodson has also stressed that "emerging countries have made, in general, higher fiscal efforts to control their debt levels and have carried out a more responsible behaviour than developed countries". GLOBALISATION AND POVERTY World Bank economist went deeper into the concept of globalisation and has stressed that it is "necessary to strengthen multilateral cooperation in trade and supply more support for the development of logistics in the emerging countries, as the reduction of costs in external trade through a better regulation, logistics, and trade infrastructure can make an essential contribution to development". Blanca Moreno-Dodson has also assured that "in spite of there being growth predictions for developing countries of 6,3% of GDP in 2010, this growth won"t be enough to repair the damage caused by the harsh deceleration of income and of social conditions suffered by these countries during 2009". In this sense, she stressed that "for 2010, the estimate is that the poverty rate worldwide will be of 15% versus 14.1% predicted before the crisis". This means that "as a result of the crisis, 64 million people more will live in extreme poverty conditions". World Bank economist has explained that the "response of the international community to the crisis has been unique and unprecedented because donor countries have continued supplying aid to developing countries and international institutions have played a vital role limiting the economic crunch of world economy". Moreno-Dodson has pointed out, as a conclusion, that global challenges in the medium and long run are "changing public expenditure, mobilising internal resources and a better rendering of services".