Bank of Italy Governor Panetta on
Thursday warned that the progress made in human development in
recent decades risks being reversed by an increase in
international conflict and tariffs.
"The world is facing an alarming rise in conflict and acute
geopolitical tensions," Panetta said as he addressed the World
Bank and the International Monetary Fund Development Committee
in Washington.
"Persistently weak security conditions, sudden clashes in
fragile countries affected by conflict and violence, and
setbacks in international trade have far-reaching interconnected
consequences that ultimately undermine our efforts to further
reduce extreme poverty and put decades of progress at risk".
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