Spring Meetings Press Conference Opening Remarks by World Bank Group President David Malpass
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...
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| Format: | Speech |
| Language: | English en_US |
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099921104212213654/IDU09077faf70c080b8ea0bdc3e30ec9ee http://hdl.handle.net/10986/37771 |
| Summary: | 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. |
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