first Global Monitoring Report was released. A joint production
of the Bank and International
Monetary Fund (IMF), it contained a stark warning
– poor people in many countries face little hope of
emerging from their lives of poverty and deprivation unless
urgent action is taken to address the root causes of poverty.
The report also warned that under current trends most developing
countries will fail to meet most of the Millennium Development
Goals – the international targets for reducing poverty
and improving services for the poor by the year 2015.