Dr. Jim Yong Kim, President of The World Bank Group, made news after speaking at a breakfast meeting of the Economic Club on when he responded to questions from reporters about the impact any potential draw-down of the United States’ aggressive bond-buying program, put in place as part of Federal Reserve’s economic stimulus package, might have on emerging markets. Dr. Kim said, “If the tapering is communicated effectively and if the tapering is gradual, which we hope it will be, then the impact of a growing U.S. economy will help to offset the impact of rising interest rates.”
Stories about Dr. Kim’s remarks were published by three global news outlets – Bloomberg, Thomson Reuters, and China’s Xinhua News Agency – and picked up by at least 79 different media outlets all over the world, including a publication in Kenya and print media in Canada.
The event also generated worldwide news coverage for taking place on a day when inclement weather predictions prompted a shutdown of the federal government and caused many other event cancellations. A story published by Thomson Reuters reporting on closures in the Washington, D.C., metropolitan area resulting from major snowfall predictions compared to activities that proceeded as normal reported, “Elsewhere, World Bank President Jim Yong Kim carried on with his speech at the Economic Club of Washington, delivering remarks on the private sector’s role in developing nations before a full crowd at a Washington hotel.”
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