WASHINGTON D.C. / ZOELLICK

World Bank President Robert Zoellick warns that currency tension could have a negative impact on jobs and livelihoods across the world. In the opening press conference he said international cooperation was key to solving these tensions and securing long-term recovery. WORLD BANK

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:01:10
• Production Date: 7 October 2010
• Asset Language: Original
• Corporate Name: WORLD BANK
• Subject Topical: ECONOMIC CONDITIONS
• MAMS Id: U101007e

Description

STORY: WASHINGTON D.C. / ZOELLICK
TRT 1.10
SOURCE: WORLD BANK
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 7 OCTOBER 2010, WASHINGTON, DC

Shotlist

FILE / RECENT 2010, WASHINGTON D.C.

1. Wide shot, exterior World Bank HQ

7 OCTOBER 2010, WASHINGTON, DC

2. Pan right, conference attendees
3. SOUNDBITE (English) Robert Zoellick, President, World Bank:
“Developed countries are easing monetary policies even more. Developing counties are tightening in response to growth. Surplus countries are intervening to lower the value of their currencies to boost exports. And all this is causing international tensions.”
4. Med shot, woman typing
5. SOUNDBITE (English) Robert Zoellick, President, World Bank:
“Today we face currency tensions. But tensions can lead to trouble, if not properly managed. The last crisis is still impacting jobs and livelihoods across the world. If ever there was a time when we should not turn our backs on international cooperation, it is now.”
6. Zoom out, press and cameras
7. SOUNDBITE (English) Robert Zoellick, President, World Bank:
“One particular bright spot is the growth in developing countries. They are growing at a faster pace than developed countries. Developing countries are expected to account for almost one half of global growth in the several years ahead. It’s a very different world from the one of ten years ago.”
8. Zoom out, exterior World Bank HQ

Storyline

The Annual Meetings 2010 of the World Bank and the International Monetary Fund, taking place in Washington DC from October 8-10, are bringing representatives from 187 countries together to discuss matters ranging from the global economy, to poverty and employment.

World Bank President Robert Zoellick welcomed delegates from all over the globe. He cautioned that the global economy is recovering, but too slowly to significantly cut unemployment. He also warned against a currency war.

SOUNDBITE (English) Robert Zoellick, President, World Bank:
“Developed countries are easing monetary policies even more. Developing counties are tightening in response to growth. Surplus countries are intervening to lower the value of their currencies to boost exports. And all this is causing international tensions.”

Zoellick says now is the time for countries to work together.

SOUNDBITE (English) Robert Zoellick, President, World Bank:
“Today we face currency tensions. But tensions can lead to trouble, if not properly managed. The last crisis is still impacting jobs and livelihoods across the world. If ever there was a time when we should not turn our backs on international cooperation, it is now.”

He also reminded listeners that developing countries are key to global prosperity.

SOUNDBITE (English) Robert Zoellick, President, World Bank:
“One particular bright spot is the growth in developing countries. They are growing at a faster pace than developed countries. Developing countries are expected to account for almost one half of global growth in the several years ahead. It’s a very different world from the one of ten years ago.”

The World Bank’s annual meetings last until Sunday.