David Malpass News

Former World Bank President David Malpass claims that there is an ‘opportunity’ for the Federal Reserve to look at rate cuts on ‘Mornings with Maria.’ 

Kudlow panelists Kevin Hassett and David Malpass discuss former President Trumps pro-growth economic package.

It's a full agenda for Ajay Banga as he nears the end of his first year as World Bank president

World Bank's new president, Ajay Banga, said Wednesday that the global lender must become «better» and «bigger» to boost its capacity to help developing countries battle climate change, poverty and pandemics. Banga, who was appointed in June, made his plea at the annual meetings of the IMF and World Bank in the southern Moroccan city of Marrakesh where reform of the Washington-based institutions is a major agenda item. The former CEO of Mastercard has previously vowed to «fix the plumbing» at the bank, saying it was «dysfunctional» despite a dedicated staff. Banga said at a press conference on Wednesday that a «deep cultural change» is needed at an «institution that has a proud history and done an amazing job over the last 78 years.» He noted that countries have to deal with various departments and that it can take 27 months between the time a project is discussed and is finally approved. «The idea of a better bank is a bank that works better with itself, is more efficient in its own processes,» Banga said. The Indian-born, naturalised US citizen has vowed to made climate change a top priority after he took over from David Malpass, a former US Treasury official who stepped down early from his five-year term amid questions about his stance on the issue. Banga wants to redefine the vision of the bank towards «eradicating poverty on a liveable planet». He said poverty, pandemics and climate change were «almost like a perfect storm» that can no longer be treated separately. Oscar Soria, campaign director for the non-profit Avaaz, said the IMF and World Bank are not moving fast enough. «While changes are promised, they are too incremental, timid and slow,» Soria told AFP, adding that countries hit by several crises

WASHINGTON—The World Bank’s executive board approved Ajay Banga as its next president on Wednesday, putting the India-born American businessman in charge of an effort to expand lending capacity and fight climate change.  

WASHINGTON—The World Bank’s executive board approved Ajay Banga as its next president on Wednesday, putting the India-born American businessman in charge of an effort to expand lending capacity and fight climate change.  

cryptocurrencies in the wake of the recent shocks witnessed in the crypto market. Last year's episode of FTX's bankruptcy following a spat with Binance triggered a huge sell-off in the market and reduced liquidity. This event made the world realise the vulnerability of this asset class as they do not have any underlying value.

WASHINGTON—World Bank President David Malpass said the detention of Evan Gershkovich, a Wall Street Journal reporter held in a Russian prison and accused of spying, is a “brazen act” by the Russian government that violates freedom of the press. 

WASHINGTON—World Bank President David Malpass said the detention of Evan Gershkovich, a Wall Street Journal reporter held in a Russian prison and accused of spying, is a “brazen act” by the Russian government that violates freedom of the press. 

In 2020, as the world went into lockdown, a group of former Bear Stearns bankers started a Zoom networking group.

WASHINGTON—The head of the World Bank warned that developing nations face an extremely challenging near-term outlook, as the sharp slowdown in global growth raises the risks of a prolonged recession.

WASHINGTON—World Bank President David Malpass said Friday he wasn’t resigning from his position amid calls from climate advocates for him to step down over his views on climate change.

With inflation high, the Fed raising interest rates, stock markets in bear territory and growing concerns over stagflation, “recession” is yet another economic worry to add to the list.

India has pitched for a global framework to regulate crypto currencies identifying their use in money laundering and terror financing as the biggest risks for all countries. «I think the biggest risk for all countries across the board will be the money laundering aspect and also the aspect of currency being used for financing terror,» finance minister Nirmala Sitharaman said at a discussion on “Money at a Crossroad” hosted by the International Monetary Fund (IMF) in Washington DC. The minister added that no country could handle these alone and they can be only regulated when countries come on board together.