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  • India's support to poor during COVID-19 remarkable, says World Bank President David Malpass Oct 05, 2022 11:17 AM IST

    India's support to poor during COVID-19 remarkable, says World Bank President David Malpass

    COVID-19 marked the end of a phase of global progress in poverty reduction. During the three decades that preceded its arrival, more than 1 billion people escaped extreme poverty.

  • Who is Indermit Gill, the 2nd Indian to become World Bank chief economist Jul 26, 2022 06:01 PM IST

    Who is Indermit Gill, the 2nd Indian to become World Bank chief economist

    Indermit Gill worked at the World Bank from 1993 to 2016, where his assignments included Director of Development Policy in Development Economics, chief economist for Europe and Central Asia, and acting chief economist for East Asia and the Pacific, among others.

  • Indermit Gill to be 2nd Indian to become World Bank chief economist after Kaushik Basu Jul 25, 2022 10:51 PM IST

    Indermit Gill to be 2nd Indian to become World Bank chief economist after Kaushik Basu

    Indermit Gill's tenure as the chief economist of World Bank will start from September 1, 2022

  • World Bank President David Malpass welcomes India's move of selling oil from its stockpiles Apr 21, 2022 06:36 AM IST

    World Bank President David Malpass welcomes India's move of selling oil from its stockpiles

    Speaking on the sidelines of the annual Spring meeting of the IMF and the World Bank held here, Malpass told reporters that allowing more trade and opening of markets were "very important" steps.

  • World Bank says war to cut global growth, boosts financing target Apr 18, 2022 07:33 PM IST

    World Bank says war to cut global growth, boosts financing target

    David Malpass told reporters on a conference call that the World Bank was responding to the added economic stresses from the war by proposing a new, 15-month crisis financing target of $170 billion, with a goal to commit about $50 billion of this financing over the next three months.

  • World Bank preparing $1.5 billion aid package for Ukraine Apr 12, 2022 07:14 PM IST

    World Bank preparing $1.5 billion aid package for Ukraine

    Malpass, speaking in Warsaw, said the package was enabled by Monday's approval of $1 billion in International Development Association (IDA) aid by donor and recipient countries as well as a $100 million IDA payment to neighboring Moldova.

  • World Bank president David Malpass congratulates India on successful COVID-19 vaccination campaign Oct 17, 2021 08:29 AM IST

    World Bank president David Malpass congratulates India on successful COVID-19 vaccination campaign

    In a meeting with Sitharaman here, Malpass reaffirmed the Washington-based international financial institution's strong commitment to India across all World Bank Group entities, including the International Finance Corporation and the Multilateral Investment Guarantee Agency.

  • Indian economy is recovering from COVID-19 crisis; says World Bank President Oct 13, 2021 08:34 PM IST

    Indian economy is recovering from COVID-19 crisis; says World Bank President

    Malpass also said that India, which faces huge challenges of integrating more people into the formal sector economy and raising the earnings of the people, has made some progress but that's not enough.

  • World Bank chief calls for 'comprehensive' debt relief for poor countries Oct 11, 2021 07:11 PM IST

    World Bank chief calls for 'comprehensive' debt relief for poor countries

    The situation is urgent since the Debt Service Suspension Initiative (DSSI) launched by G20 nations early last year, allowing countries to defer debt payments while dealing with the pandemic, expires at the end of the year.

  • World Bank projects India's economy to grow at 8.3% in 2021 Jun 08, 2021 07:38 PM IST

    World Bank projects India's economy to grow at 8.3% in 2021

    Earlier, the World Bank had estimated Indian economy to grow at a pace of 10.1 percent in FY 2021-22.

  • Inequality most apparent in direct effects of COVID-19: World Bank President David Malpass Apr 07, 2021 02:11 PM IST

    Inequality most apparent in direct effects of COVID-19: World Bank President David Malpass

    David Malpass, during a conversation with IMF Managing Director Kristalina Georgieva and US Treasury Secretary Janet Yellen on Tuesday, said that in response to the coronavirus pandemic, the World Bank took broad, fast action and quickly achieved over 100active operations of support for developing countries.

  • Global economy expected to expand by 4% in 2021: World Bank Jan 05, 2021 09:57 PM IST

    Global economy expected to expand by 4% in 2021: World Bank

    Although the global economy is growing again after a 4.3 per cent contraction in 2020, the pandemic has caused a heavy toll of deaths and illness, plunged millions into poverty, and may depress economic activity and incomes for a prolonged period.

  • By 2021, as many as 150 million people likely to be in extreme poverty due to COVID-19: World Bank Oct 07, 2020 12:29 PM IST

    By 2021, as many as 150 million people likely to be in extreme poverty due to COVID-19: World Bank

    In order to reverse this serious setback to development progress and poverty reduction, countries will need to prepare for a different economy post-COVID, by allowing capital, labour, skills and innovation to move into new businesses and sectors, World Bank Group President David Malpass said.

  • IMF, World Bank confirm plans for 'primarily virtual' annual meetings Jul 10, 2020 01:45 PM IST

    IMF, World Bank confirm plans for 'primarily virtual' annual meetings

    In a joint statement, IMF Managing Director Kristalina Georgieva and World Bank President David Malpass said they were recommending the annual meetings, set for October 12-18, be held in a "primarily virtual format."

  • Debt reduction only way to end 'poverty trap' for some countries: World Bank Chief Jul 09, 2020 11:50 AM IST

    Debt reduction only way to end 'poverty trap' for some countries: World Bank Chief

    Developing countries and emerging markets face dire economic consequences from the pandemic given inadequate healthcare systems, a lack of resources to offset the impact of widespread lockdowns and, in some cases, a collapse in commodity prices.

  • Estimates suggest much deeper global downturn due to coronavirus pandemic than Great Recession: World Bank Apr 17, 2020 09:58 PM IST

    Estimates suggest much deeper global downturn due to coronavirus pandemic than Great Recession: World Bank

    World Bank President David Malpass said while the tragic impacts of the COVID-19 pandemic are being felt globally, this crisis will likely hit the poorest and most vulnerable countries and people the hardest.

  • World Bank President David Malpass to visit India, Pakistan in October Oct 18, 2019 08:22 AM IST

    World Bank President David Malpass to visit India, Pakistan in October

    "In India, I hope to discuss the challenges in the financial sector, where progress can be made and help India grow even faster than it is," Malpass said at a news conference at the start of the annual meetings of the IMF and World Bank here.

  • New World Bank David Malpass boss vows to keep climate goals, evolve China relationship Apr 10, 2019 07:54 AM IST

    New World Bank David Malpass boss vows to keep climate goals, evolve China relationship

    Malpass, who started at the Bank on Tuesday, was nominated by U.S. President Donald Trump. Some development professionals feared that he would pursue Trump's "America First" agenda at the bank by resuming financing for coal power projects and pressuring China.