Lin 'fund push' has few takers

World Bank Chief Economist Justin Lin has called for the creation of a $2-trillion "global recovery fund", but many economists are skeptical about the feasibility of such an ambitious plan.

Lin proposed Monday that wealthy nations, led by the United States and Europe, and countries with high foreign exchange reserves, such as China and the oil-exporters, commit 1 percent of their economic output for five years to set up the fund, which would be used to stimulate the economic development of poor nations.

With the fund's help, many underdeveloped countries would escape poverty, grow in a sustainable way and import more from developed countries, Lin was quoted as saying. He also hoped the proposal would be discussed at the G20 summit in April.