Incoming World Bank president Jim Yong Kim must step up efforts to assist developing countries threatened by the euro zone crisis fallout, international agency Oxfam said ahead of his first day on the job.
Europe’s crisis must be fixed because it is becoming a serious drain on developing countries already reeling from volatile food prices and aid cuts. But it’s not good enough for the G20 to fixate on Europe and forget about the rest of the world.
A Eurozone breakup could cost the world’s poorest countries $30 billion in lost trade and foreign investment, international agency Oxfam has warned ahead of the G20 leaders meeting in Mexico to discuss the state of the global economy.
