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The Executive Director of the International Monetary Fund (IMF) Christine Lagarde, and the president of the World Bank, Jim Yong Kim, gave, Thursday, October 8, the official kickoff of the annual meetings of their institutions in Latin America for the first time in forty-nine and in a weak growth environment and the fight against climate change.
Among the general economic downturn and the growing difficulties of emerging countries, the atmosphere is rather dark, like the leaden sky of the Peruvian capital , Lima. But, as usual, Lagarde refused to give in to pessimism, while Mr. Kim reiterated that 2015 would mark a milestone: the proportion of people living in extreme poverty (on less than 1, 25 dollar per day, or € 1.10) should fall this year under the 10% mark, probably around 9.6%. A first
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“If we remain confident in our ability to put a end extreme poverty by 2030, the last part of this program will be very difficult to implement because we have entered a period of low growth, end of super-commodity cycle of expected increase US interest rates and continuous outputs of emerging market equity “, however, added the American, physician training. This economic reality may complicate the task of the World Bank. The institution should be further requested to assist countries most in need and / or those who massively in refugees (Lebanon, Jordan, Turkey, etc.) and to fight against climate change more: the whole question is whether it will have sufficient capital to carry out all its missions
Read also:. Extreme poverty fell below 10% of the world population in 2015
Increasing climate finance
Just arrived in Lima, the French finance minister, Michel Sapin, expressed the hope on Thursday that multilateral organizations and the private sector increases their climate finance. “The Organisation for Economic Co-operation and Development [OECD] established that nearly $ 62 billion was mobilized in 2014 to help developing countries, a target of 100 billion per year by 2020 . This figure is not disappointing. It shows that an effort is made and it remains an accessible, to do “ said Mr Sapin. The Minister noted that the World Bank, while supporting the dynamics of COP21, had not revised up from its climate finance (20%). For good measure, he also held that the European Investment Bank (EIB) could do more. France, hosting the COP21 in Paris from November 30, hopes to garner additional financing in Lima
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Meanwhile, the IMF Managing Director has assured that there “one can exit scenario towards strengthening our economies and towards a recovery in potential growth.” She regretted that the requirements of the Fund are “not always implemented nor heard,” and defended the need to support demand, to take action in favor of financial stability and initiate structural reforms. Moreover, while the IMF’s growth forecast for Peru, bass, have tongues wagging in Lima, Lagarde sought to put the balm to the heart of Peruvians who are décarcassés is to host annual meetings, noting that it “hoped to deceive”
Asked, finally, the possibility of a second term as head of the IMF. – the first ended in July 2016 – the French acknowledged that she thought about it but recalled that the decision was not his. “I did the best I could” , said Ms. Lagarde, who seems to have really distanced himself from French politics. Nothing and no one seems to object to the second term, nor in the advanced economies or emerging countries which do not yet seem ready to agree on the name of a personality after their ranks.
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