‘World Bank goal to eradicate extreme poverty by 2030 can be achieved’
KUALA LUMPUR: The World Bank’s goal of ending extreme poverty globally by 2030 is doable, based on Malaysia’s success in lowering extreme poverty to less than one per cent.
World Bank chief economist Paul Romer said eliminating poverty was important and a key concern of the World Bank, but to policymakers, it might not seem as urgent as sharp market fluctuations or the global financial crisis.
“If we are not careful and if we are always paying attention to urgent problems, then we don’t address the important ones,” he said in an interview with NST Business recently.
Romer cited a quote by former United States president Dwight D. Eisenhower, who said “urgent problems are not important and important problems are not urgent”.
Romer, a professor at New York University and founder of education technology company called Aplia, believes urbanisation was an another important issue as it provided people with opportunities to learn.
He said urbanisation was a key driver of economic development.
“I think we have seen real progress. China has changed everybody’s sense of what is possible. Malaysia has been successful for others to study, and Vietnam is following this part,” he added. Rupa Damodaran
World Bank chief economist Paul Romer