Publication: Opening Remarks During the Media Call on the Analytical Chapters of the June 2020 Global Economic Prospects Report
Loading...
Files in English
330 downloads
Other Files
74 downloads
109 downloads
105 downloads
83 downloads
Date
2020-06-02
ISSN
Published
2020-06-02
Author(s)
Editor(s)
Abstract
These opening remarks were delivered by World Bank Group President David Malpass during the media call on the analytical chapters of the June 2020 global economic prospects report on June 2, 2020. He covered about Bank's support activities, the debt service moratorium for the poorest countries, the progress on debt transparency and some of the next steps. He spoke about how the World Bank Group resources are being scaled up dramatically, providing strong net positive flows, especially to the poorest countries. He highlighted on IDA and IBRD working with countries to expand the coverage of social safety net programs, IFC providing finances to the private sector in developing countries over fifteen months, and MIGA helping to provide a more stable environment for investment by mitigating and managing risks arising from uncertainty. He described the debt moratorium that the World Bank and IMF championed, where the Debt service payments by all official bilateral creditors were suspended on May 1, adding to the potential resources for the poorest countries. He stated that an important part of this initiative is to help governments in debtor countries increase the transparency of their debt and investment practices and disclose the amounts and terms of their debt. He spoke about the Global Economic Prospects (GEP) report which finds a deep global recession, accompanied by a collapse in global trade, tourism and commodity prices and extraordinary market volatility. He said that beyond coping with the immediate crisis to limit the harm, policymakers can make a robust recovery more likely by maintaining private sector systems and infrastructure and allowing markets to allocate resources toward productive activities. He stated that most of the export restrictions that were announced earlier this year have not been implemented and global food prices have mostly remained stable. He highlighted on the important advances that are being made in digital connectivity in developing economies. He concluded by saying that the World Bank Group will continue to take broad, fast action in our response to the needs of people in developing countries.
Link to Data Set
Citation
“Malpass, David. 2020. Opening Remarks During the Media Call on the Analytical Chapters of the June 2020 Global Economic Prospects Report. Delivered June 2, 2020;. © World Bank. http://hdl.handle.net/10986/34515 License: CC BY 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Related items
Showing items related by metadata.
Publication Global Economic Prospects, June 2011(2011-06)The global financial crisis is no longer the major force dictating the pace of economic activity in developing countries. The majorities of developing countries has, or are close to having regained full-capacity activity levels. As a result, country-specific productivity and sartorial factors are now the dominant factors underpinning growth. Macroeconomic policy in developing countries needs to turn toward medium-term productivity enhancements, managing inflationary pressures re-establishing the fiscal and monetary cushions that allowed most developing countries to come through the crisis so well. In contrast, activity in high income and some developing European countries continues to struggle with crisis-related problems, including banking-sector, fiscal and household restructuring. The remainder of this report is organized as follows. The next section discusses recent developments in global production, trade, inflation, and financial markets, and presents updates of the World Bank's forecast for the global economy and developing countries. This is followed by a more detailed discussion of some of the risks and tensions in the current environment, and a short section of concluding remarks. Several annexes address regional and sartorial issues in much greater detail.Publication Opening Remarks at the 2019 Annual Meetings Opening Press Conference(World Bank, Washington, DC, 2019-10-17)David Malpass, President of the World Bank Group, highlighted the urgent priorities for discussion with shareholders. Global growth is slowing. Investment is sluggish, manufacturing activity is soft, and trade is weakening. The challenges of climate change and fragility are making poor countries more vulnerable. This backdrop makes our goals of reducing extreme poverty and boosting shared prosperity even harder. He suggested that with the right mix of policies and structural reforms, countries can unleash growth that's broadly shared across all segments of society. He spoke about how the Bank is helping countries build strong programs tailored to the unique circumstances of their economies. He highlighted the importance of education. He mentioned the proposed IDA replenishment, and reaffirmed commitment to projects on climate and on gender inclusion. In conclusion, he said that the well-designed structural reforms are needed to unlock growth and build the foundations for future prosperity.Publication Remarks by World Bank Group President Ajay Banga at the 2024 Annual Meetings Plenary(Washington, DC: World Bank, 2024-10-28)In his speech at the 2024 Annual Meetings Plenary, World Bank Group President Ajay Banga highlighted the organization's achievements over its 80-year history and outlined its future direction. He emphasized the dual focus on reconstruction and development, reflecting on the World Bank's origins and its evolving role in addressing global challenges such as poverty, climate change, conflict, and pandemics. Banga discussed the need for the World Bank to be faster, simpler, and more impact-oriented. He noted improvements in project approval times, streamlined processes, and enhanced collaboration with other multilateral development banks. He also highlighted the importance of measurable outcomes and increased lending capacity to maximize the institution's impact.Publication Remarks at the World Health Organization Media Briefing on COVID-19 and Vaccine Equity(World Bank, Washington, DC, 2021-06-01)World Bank Group President David Malpass stated that the immediate priority is for countries that have sufficient supply to quickly release doses to countries that have vaccination deployment programs. He said that by the end of June, the World Bank will have approved vaccination operations in over 50 countries. It is vital to speed up the supply chain. The World Bank is providing transparent access to very detailed information about projects through an online portal available at https://www.worldbank.org/vaccines. He urged other development partners to publish detailed information about their vaccine financing and deployment programs and their delivery schedules. The World Bank is also working to expand supply and will be making announcements of investments by IFC, the World Bank Group’s private sector development arm.Publication World Bank Group Press Conference at the 2021 Spring Meetings, April 7, 2021(World Bank, Washington, DC, 2021-04-07)David Malpass, President of the World Bank, discussed vaccines, climate, and debt. The World Bank commitments grew a record amount both in percent terms and dollar terms in 2020. The Bank is providing financing for several of the countries and they can be large-scale programs, but the countries are working to arrange delivery schedules from the various vaccine providers. That will be an important part of the recovery. The Bank completed a big vaccination operation through Board, which makes financing available to Bangladesh and also technical assistance from the World Bank, which is very helpful to the countries as they try to enter contract discussions, and also as they work within their health systems in order to vaccinate people. The Bank is working actively on biodiversity and agricultural challenges facing Brazil.
Users also downloaded
Showing related downloaded files
Publication Lebanon Economic Monitor, Fall 2022(Washington, DC, 2022-11)The economy continues to contract, albeit at a somewhat slower pace. Public finances improved in 2021, but only because spending collapsed faster than revenue generation. Testament to the continued atrophy of Lebanon’s economy, the Lebanese Pound continues to depreciate sharply. The sharp deterioration in the currency continues to drive surging inflation, in triple digits since July 2020, impacting the poor and vulnerable the most. An unprecedented institutional vacuum will likely further delay any agreement on crisis resolution and much needed reforms; this includes prior actions as part of the April 2022 International Monetary Fund (IMF) staff-level agreement (SLA). Divergent views among key stakeholders on how to distribute the financial losses remains the main bottleneck for reaching an agreement on a comprehensive reform agenda. Lebanon needs to urgently adopt a domestic, equitable, and comprehensive solution that is predicated on: (i) addressing upfront the balance sheet impairments, (ii) restoring liquidity, and (iii) adhering to sound global practices of bail-in solutions based on a hierarchy of creditors (starting with banks’ shareholders) that protects small depositors.Publication The Journey Ahead(Washington, DC: World Bank, 2024-10-31)The Journey Ahead: Supporting Successful Migration in Europe and Central Asia provides an in-depth analysis of international migration in Europe and Central Asia (ECA) and the implications for policy making. By identifying challenges and opportunities associated with migration in the region, it aims to inform a more nuanced, evidencebased debate on the costs and benefits of cross-border mobility. Using data-driven insights and new analysis, the report shows that migration has been an engine of prosperity and has helped address some of ECA’s demographic and socioeconomic disparities. Yet, migration’s full economic potential remains untapped. The report identifies multiple barriers keeping migration from achieving its full potential. Crucially, it argues that policies in both origin and destination countries can help maximize the development impacts of migration and effectively manage the economic, social, and political costs. Drawing from a wide range of literature, country experiences, and novel analysis, The Journey Ahead presents actionable policy options to enhance the benefits of migration for destination and origin countries and migrants themselves. Some measures can be taken unilaterally by countries, whereas others require close bilateral or regional coordination. The recommendations are tailored to different types of migration— forced displacement as well as high-skilled and low-skilled economic migration—and from the perspectives of both sending and receiving countries. This report serves as a comprehensive resource for governments, development partners, and other stakeholders throughout Europe and Central Asia, where the richness and diversity of migration experiences provide valuable insights for policy makers in other regions of the world.Publication World Development Report 2006(Washington, DC, 2005)This year’s Word Development Report (WDR), the twenty-eighth, looks at the role of equity in the development process. It defines equity in terms of two basic principles. The first is equal opportunities: that a person’s chances in life should be determined by his or her talents and efforts, rather than by pre-determined circumstances such as race, gender, social or family background. The second principle is the avoidance of extreme deprivation in outcomes, particularly in health, education and consumption levels. This principle thus includes the objective of poverty reduction. The report’s main message is that, in the long run, the pursuit of equity and the pursuit of economic prosperity are complementary. In addition to detailed chapters exploring these and related issues, the Report contains selected data from the World Development Indicators 2005‹an appendix of economic and social data for over 200 countries. This Report offers practical insights for policymakers, executives, scholars, and all those with an interest in economic development.Publication Classroom Assessment to Support Foundational Literacy(Washington, DC: World Bank, 2025-03-21)This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.Publication Argentina Country Climate and Development Report(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition.