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BRICs will suffer from QE rollback - World Bank

Wednesday, June 19, 2013 - 01:31

June 19 - As quantitative easing slows, developing countries will struggle to access capital, warns World Bank President Jim Yong Kim at a newsmaker event in London.

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-- -- that the bricks countries are talking about a bricks bank and what do I spoke I mean of course. About meet with them all the time and what they tell me -- look we have four and a half trillion dollars. Of necessary infrastructure that we have to build in the next five years. And eat in even for us in these little -- -- straight times we're having trouble for finding long term capital. So it's not a surprise that the talked him ever expect for a half trillion dollars and and in the amount of capital. Out there in the world is so small so that's the real concern. That as quantitative easing slows down and you know and another real concern is if there was a sudden stop to quantitative easing. The developing countries are really worried about access to -- that's one of the things we're working on. There's a huge infrastructure -- and we've got to begin to needed so we're working on developing something we -- -- global infrastructure facility. Where were not only putting our own money into infrastructure. But we're trying to illustrate. Four investors I mean you know again in Tokyo there's one point three trillion dollars sitting on the sideline earning very -- interest rates and so I went around trying to say look. Africa's great investment. We've increased our own investment in Africa tenfold in the last ten years and there's a very very good return to be made. Moreover what I what I what I -- the investors in Tokyo. Was it you can have the most wonderful double bottom line. You can make a good return on investment and you could also. Provide electricity for people who desperately need it.

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BRICs will suffer from QE rollback - World Bank

Wednesday, June 19, 2013 - 01:31