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World Bank urges 'new multilateralism' amid financial turmoi

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Uploaded by on Oct 6, 2008

WASHINGTON: World Bank president Robert Zoellick said Monday that the current financial turmoil highlighted the need for a "new multilateralism" to replace outdated structures.

Describing the financial turmoil of this year as a "wake-up call," Zoellick said the world needed to look beyond resolving the current crisis to the underlying role of multilateral institutions.

"We will need a new multilateral network for a new global economy," Zoelli....

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