Friday, October 2, 2009

My Notes on World Bank President Zoellick Press Briefing

I am not sure what good this will do, but I am posting it anyway, as I might have to refer to it in a column:

Meeting comes at very important point after G-20- to make sure poor countries are heard this is G-186!

It is important G-20 support developing countries.

Q. Are you getting money from rich countries? What is money runs out?
A: For IBRD, we came to crisis well-capitalized.

Q. Biggest challenge for global, Turkish economy.
Global: fall into complacency. Referred to IMF WEO. Cycle of recovery: stimulus spending in us comes in 2009 2010- will there be spillover from public to private sector. There will be differences: china will face challenge because high credit growth. You are getting signs of inf. In east asia. If they wait for us, inflation risk, if they don't, will have capital rushing in. Trade and protectionism risk as well.
Turkey: MTEP loolks sound to us. Issue with jobs and employment. We reposnded by focusing on SMEs.

A:Trade: opportunities for south south trade.
How can we help trade facilitation?- we work on that.

Q: U is growing. What is WB point of view?
A: I agree. U will continue to go up, slow in down. We got lessons from 97 crisis that it is important to focus on safety net support.

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