Development banks need to change amid global threats – Yellen
“Extreme stress” and global threats demand rethink, says US Treasury secretary
Ahead of the World Bank and International Monetary Fund’s annual meeting, US Treasury secretary Janet Yellen called for a retooling of development banks. “We must start now” on reforming development banks to deal with cross-border crises, she said on October 6.
“In the past, most anti-poverty strategies have been country focused,” she said. “But today, some of the most powerful threats to the world’s poorest and most vulnerable require a different approach. Because the challenges are global
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