External publications

The new World Bank head wants some changes: that could backfire

Gehring, Kai / Lennart Kaplan / Melvin Wong
External Publications (2019)

published on www.washingtonpost.com, 25.04.2019

Volltext/Document

The World Bank spring meeting earlier this month introduced the new World Bank Group president, David Malpass. The uncontested election of President Trump’s nominee appears to confirm an informal understanding that an American will run the World Bank Group, with a European at the head of the International Monetary Fund. Analysts are watching Malpass’s public statements closely. Malpass’s plans for the World Bank are controversial. A long-standing World Bank critic, he favors capping World Bank loan amounts and restricting the number of countries that receive aid from the bank. Malpass outlined his general agenda for the World Bank in the Financial Times, emphasizing growth-promoting policies such as lower taxes and fewer regulations for low and middle-income countries. He also intends to cut funds for certain middle-income countries that currently receive aid.