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  • 1
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    Online Resource
    Opening Remarks by World Bank Group President David Malpass during the Launch of the January 2023 Global Economic Prospects Report (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Concessional Resources ; Debt Distress ; Debt Markets ; Debt Sustainability ; Debt Transparency ; Economic Forecasting ; External Debt ; Finance and Financial Sector Development ; Global Growth Outlook ; Governance Standards ; International Economics and Trade ; Investment and Investment Climate ; Investment Climate ; Macroeconomics and Economic Growth
    Abstract: These remarks were delivered by the World Bank Group President David Malpass during the Launch of the January 2023 Global Economic Prospects Report on January 10, 2023. He addressed the following topics: global growth outlook; rising levels of debt distress and possible directions to achieve debt transparency and sustainability; the need for greatly expanded resources for developing countries, including deeply concessional resources; and attractive investment climate and governance standards
    DOI: 10.1596/38512
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  • 2
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    Online Resource
    Remarks by World Bank Group President David Malpass at World Bank Group 2022 Spring Meetings Ministerial Roundtable for Support to Ukraine (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Armed Conflict ; Conflict and Development ; Economic Assistance ; Finance and Financial Sector Development ; Financial Sector and Social Assistance ; Macroeconomics and Economic Growth ; Post Conflict Reconstruction ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: These remarks were delivered by World Bank Group President David Malpass at World Bank Group 2022 Spring Meetings Ministerial Roundtable for Support to Ukraine on April 21, 2022. He said that he has been deeply horrified and shocked by Russia's invasion of Ukraine, the atrocities committed against the civilian population, and the loss of life and livelihoods for millions of Ukrainians. He mentioned that since the invasion, the World Bank Group has provided fast-disbursing financial support to help the government provide critical services, pay wages for hospital workers, public servants, and the elderly. He insisted that It will be important for all partners to continue coordinating their support for Ukraine's budget needs. He described that the World Bank Group is working toward three phases of the recovery effort of relief, recovery, and resilience. He said that as the war continues, the World Bank Group will work to build confidence in Ukraine's financial, monetary, and fiscal institutions, fostering currency stability as they go forward. He mentioned that rebuilding will take hard work, determination, and struggle, but he remains optimistic. He concluded by saying that with our collective support, Ukraine can achieve a brighter future
    DOI: 10.1596/37782
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  • 3
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    Online Resource
    Transcript of World Bank Group President David Malpass at Spring Meetings 2022 Opening Press Conference (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Adaptation to Climate Change ; Agriculture ; Climate Change Mitigation and Green House Gases ; Electric Power ; Energy ; Environment ; Food Security ; Macroeconomics and Economic Growth
    Abstract: These remarks were delivered by World Bank Group President David Malpass at Spring Meetings 2022 Opening Press Conference on April 20, 2022. He said that the World Bank Group has been acting fast in the face of the crises: first the COVID-19 surge financing in over the last two years, which was one of the fastest and largest in our history; and now putting money into Ukraine and have moved quickly both to commitments and disbursements, including nearly 1.5 billion dollars that he announced in Poland last week. He mentioned that the World Bank is working actively on climate, through their Climate Change Action Plan and the formation of Country Climate and Development Reports (CCDRs), which will identify the high priority items country by country, in their efforts to mitigate and to adapt to climate change. He insisted that one of the solutions for the world is to recognize that markets are forward looking. He mentioned that as interest rates rise, the debt pressures are mounting on developing countries, and we need to move urgently towards solutions. He hopes and expects that many countries will step forward with individual solutions to alleviate the food crisis and the fertilizer crisis. He explained the efforts to support people within Mexico, and the World Bank is interested in working with governmental entities on that. He spoke about Nigeria has huge opportunity because of its natural resources and because of its people, and could see its growth accelerate with improvements in policy. He insisted that there needs to be substantial investment in the backbone of the global electricity system in terms of baseload and grid in order to get through to the other side of this energy crisis. He did a joint statement with IMF, with WTO, and with the World Food Program late the week before stating these views, that it's important that the world increase supply and not close markets, not fragment markets, as we move through this crisis. He hopes, as we look at the resolution to the current crisis, one of the key steps will be for the central banks and the fiscal authorities to use their tools to improve the allocation, to allow an allocation of capital that goes more towards small businesses, new businesses, and developing countries
    DOI: 10.1596/37802
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  • 4
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    Remarks by World Bank Group President David Malpass at the 2022 Annual Meetings Plenary (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Agriculture ; Climate Change Economics ; Economic Conditions and Volatility ; Economic Growth ; Energy ; Energy Demand ; Food Security ; Macroeconomics and Economic Growth
    Abstract: These are the remarks delivered by World Bank Group President David Malpass at the 2022 Annual Meetings Plenary on October 14, 2022. He spoke about the following: (i) update on the Bank Group's financial results and a few of the immense challenges during COVID-19;(ii) emergency financing for Ukraine; (iii) capital Increases of IBRD and IFC; (iv) the IDA20 replenishment; (v) the Bank has established a new Financial Intermediary Fund (FIF) for Pandemic Prevention, Preparedness, and Response (PPR); (vi) Global Alliance for Food Security with the German G7 Presidency; (vii) SCALE, a new umbrella trust fund for the Bank's results-based climate activities; (viii) publishing Bank's Country Climate and Development reports, or CCDRs; and (ix) continue to work toward broad-based growth that reduces poverty and lifts all countries and all people
    DOI: 10.1596/38294
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  • 5
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    Online Resource
    Opening Remarks by World Bank Group President David Malpass during the Launch of the International Debt Report 2022 (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Asset Repricing ; Economic Forecasting ; Economic Insecurity ; External Debt ; Finance and Financial Sector Development ; Global Recession ; International Debt Report 2022 ; International Economics and Trade ; Macroeconomics and Economic Growth ; Rising Interest Rates ; Slow Growth ; Stagflation Risk
    Abstract: These opening remarks were delivered by World Bank Group President David Malpass during the Launch of the International Debt Report 2022 on December 6, 2022. He spoke about the World Bank identified the stagflation risk early in that year which brings three risks: a global recession in 2023; a multi-year period of slow growth; and widespread asset repricing as higher interest rates are applied, and hedges run out. He mentioned that the interest rates were very low for a long period allowing a huge use of capital by fully-funded governments and business sectors, and this misallocation of global capital undercuts growth and productivity and will take time to repair. He spoke about energy prices that are a major factor, with shortages of fertilizer and food hitting people in the poorest countries particularly hard. He highlighted on the combination of extremely high government debt levels and rising interest rates will cause heavy absorption of global capital by advanced governments for a prolonged period. He said that the World Bank's latest debt statistics report released that day makes it clear that a debt crisis in the world's poorest countries is intensifying. He mentioned that to address the increase in debt and the new composition, he has focused on improvements in three areas - debt sustainability, transparency, and restructuring. He spoke on debt restructuring, where new mechanisms are needed to reflect the new creditor landscape. He concluded by saying that together with the Kristalina Georgieva from the IMF, they will engage with Chinese authorities and with their policy banks - the China ExIm Bank and the China Development Bank on the need for faster progress on resolving unsustainable debt and the need for more transparency
    DOI: 10.1596/38518
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  • 6
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    Remarks by World Bank Group President David Malpass at the G20 Leaders' Summit in Bali Indonesia (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Access and Equity in Basic Education ; Access To Clean Water ; Access To Electricity ; Debt Crisis ; Diesel Shortage ; Economic Forecasting ; Education ; Education For All ; Fertilizer Shortage ; Hunger ; Learning Poverty ; Macroeconomics and Economic Growth ; Poverty ; Water Resources ; Water Supply and Sanitation
    Abstract: These remarks were delivered by World Bank Group President David Malpass at the G20 Leaders' Summit in Bali Indonesia on November 15, 2022. He spoke about the developing world faces hunger, poverty, unsustainable debt, and learning poverty above 70 percent. Climate change makes all of these burdens worse. Farmers face droughts and floods. In poor countries, they face severe shortages of fertilizer and diesel. Underinvestment blocks access to electricity and clean water. Current global macro policies create a permanent drain on global capital, risking a long recession. The developing world needs much greater resources. The World Bank Group has achieved the largest increase in commitments in our history and greatly expanded trade finance. Regarding the debt crisis, it is urgent to create a more effective debt reduction process for low and middle-income countries that are in debt distress
    DOI: 10.1596/38519
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  • 7
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    Introductory Remarks by World Bank Group President David Malpass at the State of the Global Economy Event Organized by Brookings Institution (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Conflict and Development ; Energy ; Food Security ; Inequality ; Inflation ; Macroeconomics and Economic Growth ; Municipal Bond Markets ; Poverty Reduction ; Urban Development
    Abstract: These opening remarks were made by World Bank Group President David Malpass at the State of the Global Economy Event Organized by Brookings Institution on July 13, 2022. Mr. Malpass said the world is facing multiple crises, including the sharpest slowdown in GDP growth in 80 years, the risk of a frozen crisis in Ukraine due to Russia's invasion, and a massive worsening in global inequality as advanced economies absorb the limited supplies of global capital and energy. Global growth is not expected to rebound in 2023, given energy supply constraints; the long overdue normalization of interest rates and bond yields in the advanced economies; and the misallocation of investments that has pushed much of the world's savings into bonds, mostly bonds issued by governments and overcapitalized borrowers. The global economy is also facing significant downside risks. These include intensifying geopolitical tensions, the fragility in many countries, the potential for an extended period of stagflation, the widespread financial stress that's caused by the higher borrowing costs, and food insecurity
    DOI: 10.1596/37807
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  • 8
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    Remarks by World Bank Group President David Malpass at the 2022 Nordic Baltic Governors Meeting (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Capital Flows ; Climate Change ; Climate Change Economics ; Conflict ; Conflict and Development ; Covid-19 ; Economic Conditions and Volatility ; Macroeconomics and Economic Growth ; Refugees ; Social Development ; Voluntary and Involuntary Resettlement
    Abstract: These remarks were delivered by World Bank Group President David Malpass at the 2022 Nordic Baltic Governors Meeting on June 9, 2022. He spoke about the following: war in Ukraine; the World Bank Group is responding, with increased financial support to FCV countries, and with more staff on the ground. Addressing the challenges of fragility, conflict and violence requires strengthened international cooperation and deeper collaboration with governments, with partners such as the UN, with civil society, and the affected populations themselves, and climate action
    DOI: 10.1596/37767
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  • 9
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    Remarks by World Bank Group President David Malpass at the 2022 Ibrahim Governance Forum (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Armed Conflict ; Climate Change Economics ; Climate Change Impacts ; Conflict and Development ; Covid-19 ; Debt ; Environment ; Inflation ; International Migration ; Macroeconomics and Economic Growth ; Post Conflict Reconstruction
    Abstract: These remarks were delivered by World Bank Group President David Malpass at the 2022 Ibrahim Governance Forum on May 25, 2022. He spoke about the world is facing a dangerous period of overlapping crises of the COVID-19 pandemic, inflation, debt, and Russia's invasion of Ukraine. He explanied that Africa is particularly vulnerable to the impacts of the overlapping crises. He spoke about climate interventions and projects offer large global public good benefits, but many require substantial external funding as well as a comprehensive policy framework. He emphasized the importance of strong governance and sound institutions to confronting climate challenges in Africa, the area which is at the core of the Mo Ibrahim Foundation's work. He highlighted that the Ibrahim Index of African governance is vital in understanding the overall trajectory of governance in Africa and informing decision-making processes, including in response to climate change. He said that building a more climate-resilient Africa does not mean slowing down development or the progress toward achieving SDG7. He concluded by saying that various steps will be essential in Africa's transition from subsistence farming to productive economic activity in agriculture, services, industry, and public sectors
    DOI: 10.1596/37781
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  • 10
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    Transcript of Conversation with David Malpass and Masood Ahmed on the Way Forward (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Agriculture ; Climate Change Economics ; Conflict ; Conflict and Development ; Economic Insecurity ; Food Security ; Inequality ; Macroeconomics and Economic Growth ; Poverty ; Poverty Reduction
    Abstract: These remarks were delivered by the World Bank Group President David Malpass in conversation with Masood Ahmed, the President of the Center for Global Development on May 26, 2022. They both discussed on the following topis: (i) respond to the COVID crisis and now to the latest set of crises from Russia's invasion of Ukraine; (ii) the world moves away from the dependence on Russian energy, then new supplies will be vital; (iii) COVID Vaccination; (iv) fighting climate change; (v) global public goods; (vi) climate change action plan; (vii) climate financing; (viii) sustainable debt finance process; (ix) food security and infrastructure development; (x) possible global recession; (xi) education sector; (xii) human capital index; (xiii) the G7 communique; and (xiv) low-income households
    DOI: 10.1596/37769
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  • 11
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    Remarks by World Bank Group President David Malpass to the Development Committee - 2022 Spring Meetings (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Agriculture ; Conflict and Development ; Fertilizers ; Food Security ; Global Economy ; Inflation ; Macroeconomics and Economic Growth ; Water Resources
    Abstract: These remarks were delivered by World Bank Group President David Malpass to the Development Committee at 2022 Spring Meetings on April 22, 2022. In the case of Ukraine, the World Bank Group is doing everything we can to assist during the crisis. We have already mobilized more than 3 billion dollars of support, enlarged by your grants, guarantees, and parallel financing. We are also exploring other innovative financing options to support countries hosting Ukrainian refugees. Together with the IMF and other IFIs we are sending a clear signal that we stand with the Ukrainian people during these difficult times. The World Bank Group has made significant progress over the past decade in our engagements with countries facing challenges across the full spectrum of fragility, conflict, and violence. The Bank expects to have committed 11 billion dollars to purchase and deploy vaccines by the end of our fiscal year, benefiting 81 countries. As the world faces crises of refugees and IDPs, digitalization is creating new jobs, expanding financial inclusion, and improving the delivery of health, education, and social protection programs. It is also increasing the quality of government services, enhancing accountability, and reducing opportunities for corruption. The World Bank Group can work with the public and private sectors, in collaboration with other development partners, to develop and expand access to solutions aimed at harnessing the full potential of digital transformation
    DOI: 10.1596/37803
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  • 12
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    Spring Meetings Press Conference Opening Remarks by World Bank Group President David Malpass (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Armed Conflict ; Climate Change Impacts ; Conflict and Development ; Covid-19 ; Environment ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Immunizations ; Inflation ; Macroeconomics and Economic Growth
    Abstract: These opening remarks were delivered by World Bank Group President David Malpass at Spring Meetings Press Conference on April 20, 2022. He said that we are facing COVID-19, inflation, and the war in Ukraine. He spoke about the World Bank Group has been acting fast in the face of the crises: first the Coronavirus (COVID-19) surge financing in over the last two years, which was one of the fastest and largest in our history; and now putting money into Ukraine and have moved quickly both to commitments and disbursements, including nearly 1.5 billion dollars that he announced in Poland last week. He mentioned that the World Bank Group is also working actively on climate, through its Climate Change Action Plan and the formation of Country Climate and Development Reports (CCDRs), which will identify the high priority items country by country, in their efforts to mitigate and to adapt to climate change. He was intrigued to see and welcomed India's moves the day before and that day to begin to sell from its stockpiles. He said that one of the solutions for the world is to recognize that markets are forward looking. He mentioned that the central banks can use tools that add to supply and that allow capital allocation to be improved. He concluded by saying that as interest rates rise, the debt pressures are mounting on developing countries, and we need to move urgently towards solutions
    DOI: 10.1596/37771
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  • 13
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    Remarks by World Bank Group President David Malpass at the Eighth Ministerial Meeting of the Coalition of Finance Ministers for Climate Action - Annual Meetings 2022 (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Adaptation To Climate Change ; Climate Change Economics ; Climate Change Mitigation and Green House Gases ; Competition ; Economic Forecasting ; Environment ; Macroeconomics and Economic Growth ; Recession ; Science and Technology Development ; Science of Climate Change
    Abstract: These remarks, as prepared, were delivered by World Bank Group President David Malpass at the Eighth Ministerial Meeting of the Coalition of Finance Ministers for Climate Action, during the Annual Meetings on October 12, 2022. The remarks focus on major challenge of climate change and the global outlook. The World Bank Group (WBG) can help in many ways, and is working closely with the IMF and with other multilateral development banks (MDBs). We are implementing our Climate Change Action Plan with clear, intense, and focused measures to help our client countries fully integrate climate and development. They require diagnostics, impactful projects, WBG resources, and large-scale financing. A principal goal of the action plan is to build financing mechanisms to help the global community support global public goods, such as climate action in developing countries
    DOI: 10.1596/38173
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  • 14
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    Remarks by World Bank Group President David Malpass at the Sina Finance 2022 ESG Global Leaders' Summit (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Adaptation to Climate Change ; Climate Change Economics ; Climate Change Impacts ; Energy ; Energy Policies and Economics ; Environment ; Macroeconomics and Economic Growth ; Renewable Energy
    Abstract: These remarks were delivered by World Bank Group President David Malpass at the Sina Finance 2022 ESG Global Leaders' Summit on June 28, 2022. He mentioned that in response to Russia's invasion of Ukraine, countries are shifting their energy policy priorities in ways that may slow down the energy transition and affect global climate goals and the achievement of electricity access. He said that the increased price of natural gas is already causing increased use of coal, diesel, and heavy fuel oil in the developing world. He insisted that it will be important to identify, fund and implement the most impactful projects in terms of GHG emissions and resilience in adapting to major climate vulnerabilities. .He said that to help focus efforts in developing countries, the World Bank Group has launched a new core diagnostic called Country Climate and Development Reports, or CCDRs. He described that constant innovation will be needed as the private sector applies significant funding to global public goods. He highlighted that the World Bank promotes global transparency on climate metrics, targets, and outputs so that we can create opportunities, tackle challenges, and help countries maximize positive outcomes in their climate transition. He mentioned that China's role as a major global creditor gives it additional responsibility to support the global shift toward investments with high ESG standards. He concluded by saying that a commitment to high standards of transparency and environmental and social risk management, similar to the standards that the World Bank Group and other MDBs follow, would help recipient countries achieve sustainable development while also significantly lowering risks for Chinese investors themselves
    DOI: 10.1596/37717
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  • 15
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    Remarks by World Bank Group President David Malpass to the African Consultative Group at the 2022 Spring Meetings (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Agriculture ; Conflict and Development ; Economic Insecurity ; Environment ; Environmental Disasters and Degradation ; Food Security ; Macroeconomics and Economic Growth
    Abstract: These remarks were delivered by World Bank Group President David Malpass to the Development Committee at 2022 Spring Meetings on April 22, 2022. The war in Ukraine is an added challenge to catastrophic droughts, the surge in food prices, and disruptions of food supply chains. An estimated 100 million people in Sub-Saharan Africa are expected to face food insecurity in the coming months. In Ethiopia, South Sudan and Madagascar, there were no rains for the past three years. In the Horn of Africa alone, twenty-five million people are facing famine. The Sahel faces drought, environmental degradation, displacement, poor trade integration, and the deteriorating security situation are key factors. Cameroon, the Gambia, Sudan, Tanzania, Kenya, and South Africa were major importers of agri-food products originating from Russia. Djibouti, Egypt, and Tunisia have already been experiencing high food price inflation over the past year owing to the region's dependence on cereal imports
    DOI: 10.1596/37783
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  • 16
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    Recorded Remarks by World Bank Group President David Malpass at the World Government Summit 2022 (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Adaptation to Climate Change ; Climate Change Economics ; Economic Diversification ; Energy ; Energy and Economic Development ; Energy Resources Development ; Environment ; Macroeconomics and Economic Growth ; Solar Energy
    Abstract: This report discusses the remarks delivered by World Bank Group President David Malpass at the World Government Summit 2022. He discusses: Middle East and North Africa (MENA) will soon be the epicenter of the upcoming climate action discussions, with Egypt hosting COP27 and UAE COP28. From a global perspective, more access to clean energy will be critical for development. 760 million people, many of whom live in the poorest countries, remain without access to electricity. Regional cooperation on energy can bring GCC financing and expertise to the rest of the MENA region. With the current situation in commodity markets, the fiscal bill for fuel subsidies will crowd out many other activities if left unreformed
    DOI: 10.1596/37794
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  • 17
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    Spring Meetings 2022 Media Roundtable Opening Remarks by World Bank Group President David Malpass (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Communicable Diseases ; Disease Control and Prevention ; Energy ; Energy Markets ; Equity and Development ; Health, Nutrition and Population ; Inequality ; Inflation ; Macroeconomics and Economic Growth ; Poverty Reduction
    Abstract: This report discusses the remarks delivered by World Bank Group President David Malpass at the spring meetings 2022 media roundtable opening. He discusses on Coronavirus disease 2019 (COVID-19), inflation, and Russia's invasion of Ukraine
    DOI: 10.1596/37796
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  • 18
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    The Crisis Facing Development : Speech by World Bank Group President David Malpass before the 2022 Annual Meetings (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Energy ; Energy Demand ; Income ; Inflation ; Macroeconomics and Economic Growth
    Abstract: These remarks were delivered by World Bank Group President David Malpass before the 2022 Annual Meetings on the Crisis Facing Development on September 28, 2022. He spoke in detail about the following topics: (i) Human consequence of overlapping crises; and (ii) Confronting unprecedented fiscal and monetary policies
    DOI: 10.1596/38107
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  • 19
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    Remarks by World Bank Group President David Malpass to the G24 Meeting of Ministers and Governors (2022)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Agriculture ; Climate Change ; Climate Change and Agriculture ; Climate Change Impacts ; Developing Countries ; Environment ; Inflation ; Macroeconomics and Economic Growth ; Social Development ; Social Risk Management
    Abstract: These remarks were delivered by World Bank Group President David Malpass to the G24 Meeting of Ministers and Governors on October 11, 2022. The developing world is facing an extremely challenging outlook shaped by sharply higher food, fertilizer, and energy prices, rising interest rates and credit spreads, currency depreciation, capital outflows, and higher level of debts that adds to higher inflation, impacting especially the poor. With the current trends, the risks of a global recession in 2023 are high. The World Bank Group, together with the IMF, stands ready to continue working with the G20 to make progress in the debt agenda and we look forward to working with India's upcoming G20 Presidency on this
    DOI: 10.1596/38170
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  • 20
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    Remarks at Media Roundtable during Annual Meetings 2021 (2021)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Disease Control and Prevention ; Economic Growth ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Immunizations ; Inequality ; Macroeconomics and Economic Growth ; Poverty Reduction
    Abstract: World Bank Group President David Malpass discussed a broad range of development issues, including the economic outlook, growth, vaccines, debt, climate, and trade. World Bank financing operations will be addressed at the annual meeting as well as our climate change action plan, which aims to help reduce greenhouse gas (GHG) emissions and improve adaptation. We expect global growth of 5.7 percent in 2021 and 4.4 percent in 2022, these are very similar to our projections in the June Global Economic Prospects report. Incoming high-frequency data point to slowing momentum in global activity amid persistent supply chain bottlenecks and COVID-19 surges. Moreover, the global recovery remains dramatically uneven. The outlook is challenging for much of the developing world with lagging vaccination rates, rising inflation, limited policy support, too few jobs, and shortages that extend to food, water, and electricity. As of mid-2021, over half of IDA countries, those are the world's poorest countries, are in external debt distress or at high risk of it. A comprehensive approach, including debt reduction, swifter restructuring and more transparency is needed to help countries assess and manage their external debt risks and work toward sustainable debt levels and terms. These are fundamental to supporting health systems, education, and infrastructure and creating growth, investment, and prosperity. Enhanced and accelerated implementation of the Common Framework will be critical in achieving this much-needed debt transparency and sustainability
    DOI: 10.1596/36487
    URL: Deutschlandweit zugänglich
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