- Search Results
 
 
WB Urges Emerging Economies To Invest In Poverty Reduction
Date Uploaded: Jan 11, 2015

World Bank  Senior Vice President and Chief Economist Kaushik Basu

 

 

 

WB Urges Emerging Economies To Invest In Poverty Reduction

MONROVIA, January 9 (LINA) - World Bank  Senior Vice President and Chief Economist Kaushik Basu has disclosed that emerging market economies would do well to invest in infrastructure and support social schemes vital to poverty reduction.

A World Bank release issued by its Monrovia office noted that such policies can raise future productivity and reduce the fiscal deficit in the long run.

Basu said “this year’s Global Economic Prospects now goes beyond prediction and deepens our understanding of our global economic predicament."

The release also emphasized that with oil likely to remain cheap for some time, oil-importing countries should lower or even eliminate fuel subsidies and rebuild the fiscal space needed to carry out future stimulus efforts. 

According to the release, in countries with elevated domestic debt or inflation, monetary policy options to deal with a potential slowdown are constrained, adding that in the foreseeable future, these countries may need to employ fiscal stimulus measures to support growth.

It observes that many developing countries have less fiscal space now than they did prior to 2008, having used fiscal stimulus during the global financial crisis; adding that in recent years, private debt levels have risen substantially in some developing countries.

The release said because the so-called fiscal multiplier effect is weaker now for many developing countries, they need to rebuild budgets in the medium-term, at a pace determined to country-specific conditions.

For a number of oil-importing countries, lower oil prices offer a chance to improve fiscal positions more quickly than might have been possible before mid-2014.

LINA

latest headlines
LEC Holds Community Engagements Against Power Theft
The Liberia Electricity Corporation (LEC) has renewed its warning to individuals engaged in power theft to desist, as it was costing government i ...more
Cuttington University Promises To Sustain EHELD Projects
The Administration of the Cuttington University has assured the Excellence in Higher Education for Liberian Development (EHELD) of its commitment ...more
Justice Banks Decline To Issue Prohibition Against Korkoyah
Supreme Court Justice-in-Chamber Philip A. Z. Banks Thursday declined to grant the writ of prohibition requested by Dr. Togba Nah Tipoteh against ...more
VP Boakai Assures LACC Of Support To Tackle Graft
Vice President Joseph N. Boakai has assured the Liberia Anti-Corruption Commission (LACC) of his unreserved commitment to tackle the scourge of c ...more
Pres. Sirleaf Congratulates Luxembourg On ‘National Day'
President Ellen Johnson Sirleaf has sent a congratulatory message to His Royal Highness, Grand Duke Henri of Luxembourg, on that country’s Nati ...more
ECOWAS Envoys Congratulate Pres. Sirleaf
The Dean of ECOWAS Ambassadors and Heads of Mission Accredited to Senegal, General Edouard Tiape Kassarate, has congratulated President Ellen Joh ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency