Publication: Remarks by World Bank Group President David Malpass at the G20 Leaders’ Summit in Bali Indonesia
Date
2022-11-15
ISSN
Published
2022-11-15
Author(s)
Malpass, David
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.
Citation
“Malpass, David. 2022. Remarks by World Bank Group President David Malpass at the G20 Leaders’ Summit in Bali Indonesia. © World Bank, Washington, DC. http://hdl.handle.net/10986/38519 License: CC BY 3.0 IGO.”