Campaigners say bank should rush to rescue countries facing recession – but can it do so without resulting in mass debt write-offs?
The Bank president, David Malpass, hopes to prevent countries that have made huge strides in the last 30 years from going backwards.The Bank president, David Malpass, hopes to prevent countries that have made huge strides in the last 30 years from going backwards.Last modified on Tue 10 Jan 2023 21.
Ahead of its annual meeting in April, which is held in the US capital with its sister organisation, the International Monetary Fund, theis seeking support for proposals that include a deeper pool of capital to draw on and new lending tools. This “evolution roadmap” is designed to give the bank more flexibility to meet a series of overlapping crises that the New York university economist Nouriel Roubini, among others, has argued is the new normal.will continue to trigger food shortages and energy price spikes that fuel inflation. Interest rates, for so long at near zero, will remain above long-term trends, they say.
The Bank president, David Malpass, hopes to prevent countries that have made huge strides in the last 30 years towards food security and stable public debts from going backwards. One of the biggest headwinds faced by developing world governments is the increase in debt costs. When most debts are denominated in dollars or euros, the aggressive rate rises by the US Federal Reserve and the
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