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How to tackle global challenges: The IMF & World Bank blueprint | Global Stage
April 18, 2024
“Because they met those guidelines — while still in a very fragile environment where they were fighting Islamic extremists in the country, dealing with semi-autonomous zones in the north — they managed to discharge 90% of their debt,” said Kendrick. “It's proof that even in very fragile countries, if, as the Somali finance minister said yesterday, you build these projects into nationally unifying efforts to build a better future, they can have tremendous success.”
Kendrick also cited comments from experts calling for the IMF and World Bank to change how they view humanitarian work more generally and not back away from countries amid war. “Conflicts are becoming a day-to-day part of our lives all over the world,” he says. “That means that the IMF and World Bank, in order to make progress on development, have to figure out ways to work with the institutions in these countries as they are also in conflict.”
For more of our 2024 IMF/World Bank Spring Meetings coverage, visit Glogal Stage . Read more Show less
Ian Explains: Why is global debt so high? | GZERO World with Ian Bremmer
May 30, 2023
While these crises impacted just about every nation on Earth, they didn’t react in the same way. The US and the European Union pumped trillions of pandemic stimulus money into their economies to keep them afloat, but poorer nations kept borrowing money they couldn’t afford to pay back. Now, an estimated 60% of those countries are facing debt distress and rising inflation means paying down those bills is more expensive.
Can the world do anything about the impending debt crisis before it’s too late?
On GZERO World, Ian explains what the debt problem means for the global financial system and whether it needs to be transformed to confront the economic realities of the developing world.
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May 27, 2023
In a wide-ranging interview, Malpass explains how the global debt crisis got so bad and whether there's any hope of averting economic disaster before it's too late. He also reflects on his tenure as World Bank president, advice for his successor, China's emergence in the 21st century as the world's creditor, and why the US debt limit law needs to be rewritten.
Subscribe to the GZERO World Podcast on Apple Podcasts , Spotify , Stitcher , or your preferred podcast platform, to receive new episodes as soon as they're published.
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