Geneva - The seven major emerging economies should fight against protectionism and further liberalize their economies and trade policy, the Organisation for Economic Cooperation and Development (OECD) said in a report released Thursday.

Brazil, Russia, India, Indonesia, China and South Africa - known collectively as the BRIICS - have reduced many barriers to trade in the last two decades but, the report said, still have more work to do on the "second generation" of reforms, including reducing import tariffs.

Washington, March 19: Economists have said that there is a strong need to address the issues surrounding global poverty as a priority.

The statement has been made as part of the Economic and Social Research Council’s (ESRC) Global Financial Crisis lecture series, the second of three seminars looking at various aspects of the recession will focus on ‘Recession and Global Poverty’.

Figures indicate that of the six billion people sharing our planet, almost half live under the poverty line of US 2 dollars per day.

Tokyo  - Japan's central bank on Wednesday kept its benchmark interest rate unchanged at 0.1 per cent but decided to step up its purchases of government debt.

The Bank of Japan is to increase its monthly purchases of long-term government debt from 1.4 trillion yen (14.21 billion dollars) to 1.8 trillion yen to inject liquidity into money markets and prevent the rise of long-term interest rates.

Bangkok  - Thai Prime Minister Abhisit Vejjajiva plans to propose liberalizing lending by the World Bank and International Monetary Fund (IMF) to crisis-hit developing countries at next month's Group of 20 summit, media reports said Wednesday.

"The World Bank and IMF should come to the aid of emerging-market economies without conditions," Abhisit said in an interview with Thailand's Nation newspaper.

Beijing - The World Bank on Wednesday lowered its 2009 growth forecast for China's gross domestic product
(GDP) to 6.5 per cent, citing falling exports and investment and the downgrading of the bank's global growth forecast.

As impact of the global financial crisis has spread, "China's exports have been hit badly, affecting market-based investment and sentiment, notably in the manufacturing sector," the World Bank said in a quarterly report, in which it lowered its GDP forecast from a November estimate of 7.5 per cent.

London  - African leaders urged British Prime Minister Gordon Brown Monday not to allow the global economic crisis to dilute the commitments made on spending to developing nations.

The African leaders, including the presidents of Liberia, Tanzania and Botswana and the prime ministers of Kenya and Ethiopia, had come to London to ensure that the continent's voice will be heard at the summit of G20 nations in London on April 2.