The role banks can play in ending global poverty

With the World Bank-International Monetary Fund annual meetings this week occurring just after the U.N. General Assembly, international development advocates have been pressing for a dramatic increase in private-sector investment to improve the quality of life in emerging and developing nations.

The U.N. meetings focused on the “sustainable development goals” (SDGs), with proponents urging bold steps to raise $2.5 trillion a year in new investment to fight poverty, protect the environment and improve health. The World Bank and IMF meetings are focused on the stability of the financial system and the economic outlook, as well as economic development and foreign aid.

What both constituencies need to realize is that a comprehensive development strategy — as proposed in the SDGs — and global financial stability are inextricably linked.

continue reading »

More News