World Bank could 'run out of money' within 12 months

[oldbanger]

Apologies if this is a repost:

http://www.telegraph.co.uk/finance/financetopics/f...

The World Bank is close to running out of money, its president, Robert Zoellick, has disclosed.

The Bank, whose job it is to support low-income countries, has had to hand out so much cash in the wake of the financial crisis that its resources could run dry within 12 months.

“By the middle of next year we will face serious constraints,” said its president Robert Zoellick, as he launched a major campaign to persuade rich nations to pour more money into the Washington-based institution. ... (continued at above link)

[teapea]

Don't worry, now the world wide global world wide global recession is over it's ok we can bail out the world wide bank cause thats our idea because Gordon Brow saved the World, now he will save the World bank, and we will all be very proud of him

[FourWheelDrift]

"The Bank, whose job it is to support low-income countries, has had to hand out so much cash in the wake of the financial crisis that its resources could run dry within 12 months."


Not what I would call very good financial planning, and we trust them with our money?

[Police State]

well, seeing as the world (bank) system is about to run out of money, perhaps the only course is to write off all national debt across the globe, or... revalue/devalue the G20 currencies down to a more realistic level of parity with today's real world currency values. In short, the system is broke; rather than endlessly fit new parts, throw it away and begin a new one.

There'll be losers that were once winners, but hey!, what goes around...

PS: to the PH economists, am I only making sense to myself here?...

[hidetheelephants]

The runaway train came down the track and she blew...

more 'quantitative easing' followed by a rampant runaway inflation chaser, anybody...?

[wargriff]

The leaders of all the financially struggling countries should enter an x-factor style show. The prize money and the royalties from the record sales would solve the problem.

And we could have a laugh watching them.

Im a genius....

[turbobloke]

wargriff said:

The leaders of all the financially struggling countries should enter an x-factor style show. The prize money and the royalties from the record sales would solve the problem.

And we could have a laugh watching them.

Im a genius....

Totally. The income from text message votes alone would wipe out third world debt even after the world bank has had its coffers re-filled. They'd better have an 09 number as well, to be sure. Folk in the developed world can always pay the resulting bigger phone bills with a credit card.

[Jasandjules]

Wouldn't prudence dicate that the bank ought to have reduced it's expenditure until it's income stream was able to cover it.....

[ewenm]

Yet again, I'm reminded of the "7 years of plenty, 7 years of famine" fable...

[jeff m]

12 Months.....They have a better outlook than me.
The cash flow report in my Quick Books says next Tuesday.

[WhoseGeneration]

Print.
Easy.
Then buy what has been printed.
All merely numbers now, stored digitally.

[silver.fox.2008]

They've lent to sub-prime borrowers?

Hmmm....I'm sure I've heard of this strategy before