Rising food prices, M-E turmoil may derail economic recovery

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FE Team | Published: April 18, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

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WASHINGTON, Apr 16 (Agencies): Global finance chiefs have warned that rising food prices, unanswered joblessness, Mideast turmoil and weak finances in advanced economies could still derail economic recovery. The president of the World Bank (WB) has warned that the world is "one shock away from a full-blown crisis". Robert Zoellick cited rising food prices as the main threat to poor nations who risk "losing a generation". He was speaking here at the end of the spring meetings of the WB and International Monetary Fund (IMF). Meanwhile, G20 finance chiefs, who also met here, pledged financial support to help new governments in the Middle East and North Africa. Mr Zoellick said such support was vital. Continued to page 7 col. 6