David Malpass

The scope and speed with which the COVID-19 pandemic and economic shutdowns have devastated the poor around the world are unprecedented in modern times, World Bank Group President David Malpass said.

17:30 - The World Bank on Thursday said it had approved an initial $1.9 billion in emergency funds for coronavirus response operations in 25 developing countries, with more than half the aid earmarked to help fight the fast-spreading disease in India.

07/10 - 18:33 - David Malpass blames Brexit, Europe’s recession and trade uncertainty

Global finance chiefs ended talks in Washington mixing concern toward the current state of the world economy with confidence that it will soon rebound. The shift away from tighter monetary policy by central banks, recent stimulus in China and easing trade tensions were hailed as reasons to hope the slowdown will prove short-lived although nobody forecast a renewed boom.

WASHINGTON — The Treasury official nominated by President Donald Trump to be the next president of the World Bank has cleared a major hurdle, with nominations for the position closing with no other candidates emerging.

Avowed sceptic of multilateral institutions to visit Asia to seek backing

David Malpass has been a steadfast critic of multilateral lenders