High prices of food, fuel threatening the poor: World Bank

Thursday April 14, 2011 08:56:45 PM, IANS

Washington: Volatile food and fuel prices are threatening the world's poor, World Bank President Robert Zoellick said Thursday.

Time should not be wasted in taking measures to tackle the challenges, Zoellick said at a press conference that officially kicked off a meeting of the World Bank and its sister agency, the International Monetary Fund (IMF).

"We have to put food first and protect the poor and vulnerable, who spend most of their money on food," Zoellick was quoted as saying by Xinhua.

According to the latest edition of the World Bank's Food Price Watch, an additional 10 percent increase in global prices could drive an additional 10 million people below the $1.25 extreme poverty line. 

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Picture of the Day

Farooq Naikwadi, a counselor for Civil Services exams, addressing a workshop on the topic at Abdullah Ash Shae Auditorium, Mansoora in Malegaon April 09, 2011

(Photo: ummid.com)