ADB warns Asia could once again face poverty
Updated
The Asian Development Bank has warned that the crisis caused by rising food prices is so serious it could reverse the gains made in reducing poverty across the continent.
A report issued by the bank says the situation demands an immediate response by the international community.
At the start of its annual conference in Madrid, the bank's president, Haruhiko Kuroda, suggested that reducing oil subsidies might be one way of finding more money to help alleviate poverty.
He said 75 per cent of the expenditure of the poor is affected by price inflation.
