(ECO) WORLD BANK PRESIDENT: INTEREST RATES MAY RISE AGAIN IN 2010.ISTANBUL, Oct 5, 2009 (TUR tur: see ibex. ) -- World Bank president said on Monday that interest rates might rise in 2010. Holding a press conference within the scope of IMF-World Bank meetings in Istanbul, WB President Robert Zoellick said that when governments drew back their economic support in 2010, interest rates might increase again. He added that there was no guarantee. Noting that the meeting in Istanbul was the second largest one after G-20, Zoellick said that the meeting in Istanbul gave an opportunity to countries which did not participate in the meeting in Pittsburgh. Zoellick said that European Investment Bank European Investment Bank, nonprofit bank created in 1958 by the six founding countries of the European Economic Community (now part of the European Union [EU]). played an important role in central and eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. during the crisis. Noting that World Bank could use the experience it gained in several regions in other regions too, Zoellick said that they could establish deeper relations with regional development banks. Upon a question, Zoellick said that they reserved an important part of their income for poor countries, adding that the Bank could pursue its activities thanks to its sound condition in this crisis milieu mi·lieu n. pl. mi·lieus or mi·lieux 1. The totality of one's surroundings; an environment. 2. The social setting of a mental patient. milieu [Fr.] surroundings, environment. . (GC-CE) (THROUGH ASIA Asia (ā`zhə), the world's largest continent, 17,139,000 sq mi (44,390,000 sq km), with about 3.3 billion people, nearly three fifths of the world's total population. PULSE) |
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