"The G-20 presents an agenda to restore confidence in the global economy through its commitment to reinvigorating growth, create jobs, ensure financial stability, and create more sustainable and inclusive globalization," World Bank Group President Robert B Zoellick said Monday in a written statement received here.
With members representing 187 countries, the World Bank Group highlighted the spill-over effects from the European crisis zone and how it might harm the poor in developing countries, Zoellick said.
The effects of the crisis have been to overshadow prospects for growth in developing countries which, during the last five years, supported the world economy by providing two-thirds of global growth.
Zoellick added that that the developing countries are now in a weaker position to face economic turmoil, compared to 2008. He also said developing nations remain more vulnerable than the developed countries.
"The summit agreed to review the IMF's resources in coping with the crisis. There is also an agreement on things to do in Europe to prevent the euro zone debt problems from becoming the problems of others," Zoellick said.(*)
: Nyoman Budhiana
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