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World Bank President discusses debt restructuring for poor countries in Washington meetings




David Malpass, President of the International Year group tomorrow, Wednesday, will discuss at the Spring Meetings of the World Bank Group in Washington the file of debt restructuring for poor countries due to the Corona pandemic.
 
On its official website, the World Bank indicated that the Corona pandemic has clearly demonstrated the need for a better way to meet the debt financing needs of developing countries that have been subjected to repeated cycles of debt accumulation and crises, which have hit them with serious setbacks for efforts to combat extreme poverty.
 
He added that this event would discuss perspectives on a new international debt financial architecture that would highlight the consequences of inaction and inaction on poverty and development. What lessons can be learned from past debt restructuring efforts? What policy options are available to countries to enhance debt financing in a manner that ensures resilience to shocks, to support efficient debt restructuring when needed, and to increase debt transparency?
 
He indicated that leaders from governments, the private sector and civil society - as well as young people aspiring to finance their future from around the world - will present their concerns and ideas about what can be done to quickly resolve the debt crisis and achieve a resilient and inclusive green recovery for all.
 
Speaking at the meeting alongside the President of the World Bank are Carmen Reinhart, Vice President and Chief Economist of the World Bank Group, Julie Monaco, General Manager, Citi, Vera Esperancha dos Santos Davis de Sousa, Minister of Finance, Angola, and Kevin Watkins, CEO of Save the Children. And Kingsley Wai Amoako, Chair of the African Center for Economic Transformation, and directed by Paul Blake, World Bank Communications Officer.

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