Next week, we’ll be hosting our Spring Meetings in Washington, D.C., which will attract a few thousand leaders in development from around the world. To set the stage for these meetings, I talked this week about the fundamental issues in global development and how we’re undergoing dramatic changes inside the World Bank Group to meet those great challenges.
We live in an unequal world. The gaps between the rich and poor are as obvious here in Washington, D.C., as they are in any capital. Yet, those excluded from economic progress remain largely invisible to many of us in the rich world. In the words of Pope Francis, “That homeless people freeze to death on the street is not news. But a drop … in the stock market is a tragedy.”
While we in the rich world may be blind to the suffering of the poor, the poor throughout the world are very much aware of how the rich live. And they have shown they are willing to take action.
Spring in DC draws more than just tourists. Last week, government officials, policy makers, civil society representatives and other thought leaders converged to take stock of the global economy during the IMF-World Bank spring meetings. The tone in the hallways was optimistic, but cautious. Growth in advanced economies still remains tepid, weighed down by lingering effects of the global financial crisis, demographic challenges, as well as weakening innovation and productivity growth. At the same time, there are encouraging signs that developing countries are in good shape, thanks to fiscal buffers that helped them to weather the storm.
Nevertheless, we must be mindful of the work ahead: the IMF warned of a ‘3-speed recovery’, where emerging markets are growing rapidly, the United States is recovering faster than most other advanced industrial countries, but Europe continues to struggle. Where does this leave developing countries? At a meeting with the G24 – a group of developing countries - I had the privilege of discussing the prospects for growth, and policies needed to achieve productivity growth essential for eliminating extreme poverty and for creating shared prosperity.
Speaking ahead of the upcoming World Bank-IMF Spring Meetings, Bank Group President Jim Yong Kim called on the international community to seize the historic opportunity presented by favorable economic conditions in developing countries and end extreme poverty by 2030. This is an exciting goal, and success in achieving it has become possible. Kim pointed to the International Development Association, or IDA, the Bank’s fund for the poorest, as central to the tremendous effort needed to make this happen.
Every three years, development funders and borrowing country representatives meet to deliberate and agree on IDA’s strategic direction, financing, and allocation rules, and we just kicked off this process for the 17th “replenishment” of IDA (which provides development financing for the period July 1, 2014-June 30, 2017).
Two days of open discussion in Paris on March 20-21 with both investors and borrowers covered the complex development agenda faced by IDA countries, as well as the fund’s strategic approach to dealing with these issues. We worked to chart a way forward for IDA to most effectively improve the lives of the roughly 1 billion people in IDA countries still living on less than $1.25 a day.
With the World Bank Group’s 2013 Spring Meetings just around the corner, we’ve compiled a guide to the many live events happening. No matter where you are around the world, you can join the conversation all week via #wblive.
Several featured events will be webcast and covered in multiple languages. Make sure to follow and participate in the week’s events in Arabic, English, French, and Spanish.
Your thoughts and questions will help make the conversations happening both online and offline at this year’s Spring Meetings rich and diverse. Don’t forget to ask questions before and during our events to engage with top development leaders in a global conversation on what #ittakes to end poverty.
Flagship Event: April 19
Global Voices on Poverty – Interactive Live Blog & Webcast
Watch and join the conversation in Arabic, English, French, and Spanish
11:00 a.m.-12:10 p.m. EDT (15:00-16:10 GMT or convert time)
Participate in an interactive conversation on ending poverty with World Bank Group President Jim Yong Kim and UN Secretary-General Ban Ki-moon. Global Voices on Poverty will bring together world leaders, opinion makers, and a global online audience to discuss what #ittakes to end poverty.
In two weeks, economic policymakers from around the world will gather in Washington, D.C., for the World Bank-IMF Spring Meetings. As has been the case for the past five years, there will be much talk of economic crisis and of strategies to restore confidence, kick start growth, and create jobs. There is growing evidence that we are on the right track, but this agenda still requires much more work.
The meetings, though, also offer an occasion to look beyond the short term crisis-fighting measures. It is a chance for leaders to adopt a long-term perspective and assess where we stand and where we are headed.
If they do, they will see that today we are at a moment of historic opportunity. For the end of absolute poverty, a dream which has enticed and driven humanity for centuries, is now within our grasp.
A record number of CSOs participated in the recently concluded Spring Meetings in Washington. Over 550 civil society representatives (see list) – 200 more than in 2011 – attended the Civil Society Program which spanned five days from April 17 to 21. Of these, the Bank and Fund sponsored 29 CSOs / Youth Leaders and Academics (see list) from developing countries in order to ensure that voices and perspectives from southern civil society and young people were adequately represented at the Spring Meetings. These sponsored participants participated actively in a week-long schedule of events, including numerous bilateral meetings with Bank and Fund senior managers.