Mario Draghi: Challenges now facing the world economy Statement by Mr Mario Draghi, Governor of the Bank of Italy, on behalf of Albania, Greece, Italy, Malta, Portugal, San Marino and Timor Leste at the Seventy-Eighth Meeting of the Development Committee (Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries), Washington DC, 12 October 2008.
*  *  *  Energy and food prices and financial turmoil Today, the economies of both developed and developing nations are faced with high energy and food prices and financial distress, which are severely testing their resilience. Steady leadership, high-quality analysis, and bold answers are needed to overcome the many new challenges that now confront the development process.