- WASHINGTON: The global financial crisis derailed efforts to slash poverty and hunger worldwide by 2015, but boosting economic growth in poor countries can help restore momentum again, the International Monetary Fund said on Thursday.
In a position note before a United Nations summit of world leaders next week to take stock of the UN Millennium Development Goals (MDGs), the IMF said the goals will be difficult to meet without restoring growth.
Leaders are expected to stick to the eight goals but are unlikely to make ambitious new promises including on aid.
IMF First Deputy Managing Director John Lipsky said millions of people were thrown back into poverty, while others’ escape from poverty was delayed due to the crisis, which was exacerbated for the poor by record food prices in 2008.
“To resume progress toward the MDGs, what is needed is a speedy return to the pre-crisis path of rapid growth, especially pro-poor growth and inclusive growth,” he said in a speech.