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Remarks by World Bank Group President David Malpass at the Global Sovereign Debt Roundtable in Bengaluru, India

· David Malpass, President of the World Bank Group (International)

Summary written by Dark Majestic in its own words · topics: public finances and debt, development and emerging economies

DM
· David Malpass Wiki · World Bank Group WikiRemarks by World Bank Group President David Malpass at the Global Sovereign Debt Roundtable in Bengaluru, India

ContextRemarks at the Global Sovereign Debt Roundtable in Bengaluru, with the IMF chief and India's finance minister; the World Bank fights poverty and wants faster debt restructuring.

Why it mattersMalpass calls for faster restructurings for Zambia, Ghana, Ethiopia and Sri Lanka.

Problems raised
  1. Sovereign debt problems block development.
  2. Restructurings take too long.
  3. Liquidity-only solutions lead to repeated crises.
Solutions proposed
  1. Speed up debt restructuring processes.
  2. Identify barriers through open roundtable discussions.
  3. Deliver solutions for Zambia, Ghana, Ethiopia and Sri Lanka.
Read full speech on worldbank.org ↗

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