Ahead of the World Bank and International Monetary Fund annual meetings on 13 October, the World Bank reports that “countries already suffering food and fuel price inflation may now also see declines in exports, trade and investment as a result of financial turmoil that is becoming increasingly global.”
“The stark reality is that developing countries must prepare for a drop in trade, capital flows, remittances, and domestic investment, as well as a slowdown in growth,” says Robert Zoellick, the World Bank Group president.
Meanwhile, in their new report to be presented on 12 October entitled Rising Food and Fuel Prices: Addressing the Risks to Future Generations, the World Bank forecasts that “the number of malnourished people globally will grow by 44 million, to 967 million, in 2008 , after several countries experienced double-digit food inflation.”
See also IRIN’s food crisis page.
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