Washington DC, 11.10.2013-The Secretary-General of the Organization for Economic Cooperation and Development (OECD), Mr. Angel Gurria stated on Thursday that there is no simple remedy to the post crisis global economy and it is clear the full range of macroeconomic and structural policies is required. Mr. Gurria made this comment during a lecture organized by the Islamic Development Bank (IDB) in Washington DC as part of the series of side events organized by the IDB at the 2013 World Bank/IMF
Annual Meeting.
Mr. Gurria specifically paid significant attention to youth unemployment and job creation because young people have been especially hurt by the global crisis. “There remain a large number of serious risks and challenges to be addressed to put the global economy on a path to a sustained recovery”, he said.
“We cannot afford to lose momentum for reforms and polices are needed that can support growth and create jobs”, Mr. Gurria told the audience as the keynoter at the luncheon organized by the IDB, which had in attendance the Deputy Prime Minister of Turkey, Finance Ministers and Central Bank Governors from IDB member countries as well as other development partners.
Mr Gurria further stated that for the global economy to recover from its current position, three key ingredients are required for long term growth, namely: jobs, equality and trust.
In his welcome address as the Chief host, the President of IDB, Dr. Ahmad Mohamed Ali, thanked Mr. Gurria for being the guest speaker at the IDB luncheon, and expressed his appreciation for the cooperation that exists between the two institutions.
Dr. Ali stated that IDB is working with other development partners like the G8 Deauville Partnership to ensure that the needs of the youths are addressed, and initiatives that will increase confidence in the global economy are introduced.