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Which Path Will World Bank Take? (Global Finance Magazine)
May 8, 2019
From the article:
“Action will need to be coordinated across countries and regions” to deal with such issues, comments Masood Ahmed, president of the poverty-focused, DC-based think tank Center for Global Development (CGD), on the CGD website. Ahmed served eight years as director of the IMF’s Middle East and Central Asia Department before joining CGD in January 2017.
“The world is looking for innovative ways to work with developing countries and to drive some small portion of the trillions of dollars of global capital to support sustainable development,” says Mark Plant, director of development finance and senior policy fellow at CGD. “The World Bank has all the tools needed to bring about new development and financing paradigms. It doesn’t need a revolution, but just a tilt in the right direction.”
Plant hopes that the 63-year-old Malpass, who has served under Trump in the Department of the Treasury, will rise to the occasion. “The question is whether he can and will steer the World Bank where it is needed,” Plant says, “or whether he will fall back on old development models, leaving it increasingly irrelevant.”