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World Bank’s Malpass on surprise exit: Four years is a long time

Business & Finance

World Bank President David Malpass told Reuters exclusively that he decided to leave before his five-year contract ended because he felt work was well underway on reforms aimed at expanding the bank’s lending. The former Bear Stearns chief economist told Reuters he would support a “smooth transition” to a successor, declined comment on possible replacements, and dismissed suggestions he was pushed out. 

Market Impact

The World Bank Group, which includes the International Bank for Reconstruction and Development and the International Finance Corp, committed $440 billion in loans and grants over the past four years in response to the COVID-19 pandemic, the war in Ukraine, global economic recession and slowdown, unsustainable debt burdens, climate change, and food, fertilizer, and energy shortages. 

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Americas

Countries: US

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story


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