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The Crisis Facing Development – Speech by World Bank Group President David Malpass before the 2022 Annual Meetings

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

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, financial stability, public finances and debt, development and emerging economies

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· David Malpass Wiki · World Bank Group WikiThe Crisis Facing Development – Speech by World Bank Group President David Malpass before the 2022 Annual Meetings

ContextSpeech at the Stanford Institute for Economic Policy Research before the 2022 Annual Meetings; the World Bank fights poverty and warns of a crisis for development.

Why it mattersMalpass warns that rich countries' policies hurt developing economies.

Problems raised
  1. Development is in crisis.
  2. High debt makes developing countries vulnerable.
  3. Fiscal and monetary policy overlap threatens independence.
Solutions proposed
  1. Improve macroeconomic policies in advanced economies.
  2. Address debt vulnerabilities.
  3. Protect monetary policy independence.
Read full speech on worldbank.org ↗

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