Recession turns into human and development calamity: IMF, WB

WASHINGTON: Global recession has turned into a human and development calamity. The most affected are developing countries. The World Bank President Robert Zoellick said it at a press conference after the Development Committee meeting here. He concluded that presently the world was facing unwanted and unpredicted meltdown and the poor was suffering the most. So that all of them had to work in this line to save the poor. He said that according to a research, most of the eight globally agreed goals are not going to met.

The goals include those related to hunger, child and maternal mortality, education, and progress in combating HIV/AIDS, malaria and other major diseases. The International Monetary Fund (IMF) and the World Bank (WB) has said the ongoing global slowdown is turning into a human calamity as it has hit millions of poor people across the world.