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Dominique Strauss-Kahn, Managing Director of the IMF. The International Monetary Fund (IMF) warns rising oil and food prices are having a negative impact worldwide, especially in developing countries where extreme poverty is growing. While higher prices are reducing people’s living standards in advanced countries, an IMF study reports they are having a more extreme effect in developing economies – where the typical household is now spending more than 50 percent of their annual income on food.
Dominique Strauss-Kahn, Managing Director of the IMF, says there’s a delicate balance between aiding the poorest citizens and maintaining a stable economy:
Mark Plant, Deputy Director of the Policy Development and Review Department, addresses the danger presented to countries by the sharp increase in food and fuel prices in 2007 and 2008:
About Mark Lee
Mark Lee has been a long-time journalist writing, editing and producing in print, radio television and new media.
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