MDBs Regular Consultations on Global Economy in London

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Heads and Senior Representatives of Multilateral Development Banks (MDBs) met in London on 11 March 2011 for their regular consultations on the global economy and to discuss how they work on issues of common concerns.

In a joint statement after the meeting, the Heads and Representatives of the MDBs expressed their deep sympathies with people of Japan on extensive loss of lives and mass destruction due to earthquake and tsunami. They noted that the global economic recovery was gaining traction and welcomed overall robust growth in emerging and developing economies, supported by strong private demand. However, they expressed concern that the recovery was uneven, unemployment remains high, and that unsustainable patterns of growth may be re-emerging. The African Development Bank (AfDB) Group was represented by Nkosana Moyo, Vice President and Chief Operating Officer.

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