Economic Crisis: The World Bank Turns Into The World's Good Guys

On our partner site Libertas, Ali Yenidunya has posted a provocative blog on the possibility of international economic institutions such as The World Bank stepping up as "good guys" in the alleviation of poverty in the current global crisis.

On 26 April, Robert Zoellick, the head of the World Bank, told a news conference,  that poor countries are paying a heavy price in the deepening global economic crisis. According to Zoellick:

- In 2008 more than 50 million people, most of whom are children and women, fell under the threshold of extreme poverty, measured as earnings of $1.25 a day.

- Most of the United Nations Millennium Development Goals could not be met because of the economic crisis.

- In 2009, between 55 and 90 million more people will fall into extreme poverty. The number of those suffering chronic hunger will pass 1 billion.

Read the rest of the post....