10. Speeches of World Bank Presidents [collection under construction]

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Remarks by World Bank Group President at the Opening Session of the 8th Tokyo International Conference on African Development (TICAD 8)

(World Bank, Washington, DC, 2022-08-27) Malpass, David

These remarks were delivered by World Bank Group President, David Malpass at the Opening Session of the 8th Tokyo International Conference on African Development (TICAD 8) on August 27, 2022. He said that the World Bank Group remains a committed, long-term partner to Africa, and nearly half of IBRD and IDA funding goes to Africa, and they work together closely in several areas as follows: First, the World Bank Group is advising governments on necessary trade policies, including on the need to avoid export bans and other trade-restrictive measures; Second, help African countries provide much needed, targeted social protection for the most vulnerable; and Finally, much of work in Africa is supported by IDA, their fund for the world’s poorest. He concluded by reaffirming his special thanks to Prime Minister Kishida for his leadership in promoting the cause of developing countries and effective international financial institutions, and their very strong partnership with Japan.
Introductory Remarks by World Bank Group President David Malpass at the State of the Global Economy Event Organized by Brookings Institution

(World Bank, Washington, DC, 2022-07-13) Malpass, David

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.
Transcript of Conversation with David Malpass and Samantha Power on the Way Forward

(World Bank, Washington, DC, 2022-06-21) Malpass, David ; Power, Samantha

These remarks were delivered by the World Bank Group President David Malpass in conversation with Samantha Power, USAID Administrator on June 21, 2022. They discussed about the impact of overlapping global crises on the poorest and most vulnerable people. The world, as people know, is in a very complicated situation, especially for people in poorer countries and the poor worldwide. It has to do with inflation, with food, with conflict, fragility, issues that we work with every day at the World Bank and USAID does, too. As people know, the World Bank works on an array of development issues and including and especially right now food and fertilizer. We have announced 30 billion dollars of assistance in the food-related areas as part of our response to the current set of crises. And one of the challenges is, in specific country areas, to find the right program. And we work very, very closely with development assistance agencies around the world, including and especially USAID.
Transcript of Conversation with David Malpass and Masood Ahmed on the Way Forward

(World Bank, Washington, DC, 2022-05-26) Malpass, David ; Ahmed, Masood

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.
Spring Meetings 2022 Media Roundtable Opening Remarks by World Bank Group President David Malpass

(World Bank, Washington, DC:, 2022-04-18) Malpass, David

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.
Remarks at Media Roundtable during Annual Meetings 2021

(World Bank, Washington, DC, 2021-10-11) Malpass, David

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.
Avoiding a Lost Decade in Latin America and the Caribbean

(World Bank, Washington, DC, 2021-06-23) Malpass, David

World Bank Group President David Malpass discussed his work on development and the unique challenges facing Latin America during his 1984 trips to Honduras and Guatemala for the United States government. In addition to per capita gross domestic product, the World Bank recognizes the importance of non-economic measures of prosperity including access to electricity, clean water, health, education, and nutrition; environmental protection, biodiversity and resilience to climate change; and connectivity to people, information, and financial services. As shown in the recent report, Renewing with Growth, some countries in Latin America and the Caribbean (LAC) have strong capabilities in this area. For long-term growth, LAC needs a supportive business environment that is conducive for entrepreneurship. In many countries, it is important to address distortions induced by state ownership. Foreign direct investment can play a big role in improving competition and productivity. The LAC region has a great opportunity post pandemic to expand trade through more dynamic global value chains.
Remarks at the Western and Central Africa Regional Media Roundtable

(World Bank, Washington, DC, 2021-05-20) Malpass, David

World Bank Group President David Malpass spoke about the Coronavirus (COVID-19) pandemic that has taken a toll on African lives, economies, and livelihoods. The World Bank intends to invest and mobilize about $150 billion over the next five years in Africa to support the continent’s recovery from the pandemic and its long-term development. He urged countries that expect to have excess vaccine supplies to release their excess as soon as possible to developing countries that have delivery programs in place. He emphasized the need for greater transparency in contracts between governments, pharmaceutical companies, and organizations that are involved in vaccine production and delivery so that financing can be directed effectively, and countries can plan for receipt and deployment. The World Bank yesterday launched a comprehensive online portal that provides easy access to information about their projects, including individual country-financing operations. He spoke about comprehensive debt solutions which will involve at least four elements: debt suspension, debt reduction, debt resolution, and debt transparency. He stated that without private creditors fully onboard, the Common Framework will not deliver a sustainable solution for Chad, Ethiopia, or Zambia. As countries work to recover, tackling climate change will be key for the region. The Bank is also working to address fragility, conflict, and violence. He concluded that while we know that the road to recovery will be long, countries in the region have applied lessons from previous crisis such as the West Africa Ebola outbreak in 2014, and many countries have strengthened their social safety nets to help protect the poor that have been most affected by the crisis, and to move faster on key reforms and investments that will be crucial for long-term development.
Economic Recovery: Conversation with David Malpass, Kristalina Georgieva, and Janet Yellen

(World Bank, Washington, DC, 2021-04-06) Malpass, David ; Georgieva, Kristalina ; Yellen, Janet

World Bank Group President David Malpass spoke about the world facing major challenges, including COVID, climate change, rising poverty and inequality and growing fragility and violence in many countries. He highlighted vaccines, working closely with Gavi, WHO, and UNICEF, the World Bank has conducted over one hundred capacity assessments, many even more before vaccines were available. The World Bank Group worked to achieve a debt service suspension initiative and increased transparency in debt contracts at developing countries. The World Bank Group is finalizing a new climate change action plan, which includes a big step up in financing, building on their record climate financing over the past two years. He noted big challenges to bring all together to achieve GRID: green, resilient, and inclusive development. Janet Yellen, U.S. Secretary of the Treasury, mentioned focusing on vulnerable people during the pandemic. Kristalina Georgieva, Managing Director of the International Monetary Fund, focused on giving everyone a fair shot during a sustainable recovery. All three commented on the importance of tackling climate change.
Building a Green, Resilient, and Inclusive Recovery

(Washington, DC: World Bank, 2021-03-29) Malpass, David

World Bank Group President David Malpass acknowledged the importance of the United Kingdom within the World Bank Group. He spoke about the Coronavirus (COVID-19) which descended on the poor like wildfire. He highlighted the Bank's approach to the interlinked crises of green, resilient, inclusive development (GRID). The World Bank is working to help countries build “Country Platforms” to engage with wider groups of development actors as they develop the programs with Bank support. He focused on three of the most pressing challenges of climate, debt, and inequality. There is a need for integrated, long-run strategies that emphasize green, resilient, and inclusive development. He concluded we can generate a recovery that ensures a broad and lasting rise in prosperity especially for the poorest and most marginalized.