IMF, World Bank & IFI Round-Up

    More than 140 million people could be plunged into poverty and 23 million lose their jobs in Asia this year as the global financial crisis batters the region, according to a study released Feb. 18. The crisis could also slow rural-to-urban migration, with many facing the prospect of returning to low-paid agricultural jobs as factories and firms lay off workers, the International Labor Organization (ILO) report said. And as unemployment rises, it is imperative for countries in the region to use fiscal stimulus packages for safety nets to prevent widespread social unrest from erupting, officials said.

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