World Bank: Globe Entering "Era of Markedly Slower Economic Growth"

The World Bank released research yesterday on the state of global finance and the global economy, arguing that the world is going to enter an "era of markedly slower economic growth." They are generally positive on the policy response to date, but still argue that much is to be done. One of the most important releases comes from their thoughts on the prospects of a global recovery:

Finally, there is a very urgent need to recognize that poor countries that were already under strain—notably from suffering through the food and fuel crisis—should receive attention quickly. These countries have little or no access to private foreign capital even in good times, and are largely dependent on donors for the resources needed to meet the Millennium Development Goals, which have a due date of 2015.

Recent history has seen hundreds of millions of people lifted out of poverty by the creation of economic opportunity around the world. The Great Recession has reversed or forestalled this trend in many places, with potentially disastrous social and political consequences. It's the kind of thing that makes one wonder about members of Congress blocking IMF funds.