Development committee voices concerns over global trade, investment

Added On April 16, 2019

Economic experts are urging countries to address global growth concerns, as prospects for trade and investment threaten to deteriorate further.
The remarks were made at the Development Committee, a ministerial-level forum of the World Bank and the International Monetary Fund(IMF) on Saturday in Washington.
In a communique released the same day, the committee reiterated the importance of international trade and investment as engines of growth, productivity, innovation, job creation and sustainable development.
The committee also voiced support for the World Bank and IMF's "multipronged approach" to improve recording, monitoring, and reporting of public and private debt.
The communique emphasized the "key role" of the private sector in providing sustainable solutions to development challenges, creating markets, mobilizing investment and generating jobs.
It called on relative parties to work together to mobilize private sector solutions and resources, leverage sectoral reforms, and mitigate investment risks.
The committee, which represents 189 member countries, also underscored its support for the World Bank's twin goals of ending extreme poverty and boosting shared prosperity.