World Bank, IMF endorse bold poverty agenda

The IMF and World Bank on Saturday backed a bold Bank goal to eradicate extreme poverty within a generation and raise the shared prosperity of their 188 member countries. The Development Committee, representing the International Monetary Fund and the World Bank on development issues, said it had endorsed the "ambitious" agenda proposed two weeks ago by World Bank President Jim Yong Kim. Calling the initiative a "historic opportunity" to make a difference, the committee said the goals must be achieved without jeopardizing the environment, increasing economic debt or excluding vulnerable people. Kim welcomed the committee's endorsement as "an important step."