David Malpass
@DavidRMalpass
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Former President of the World Bank Group, Under Secretary of the U.S. Treasury, and leading Wall Street economist. Advocate for development and growth.
Washington, DC
Joined April 2019
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Glad to see
@officialABAT
taking concrete steps to scrap Nigeria’s harmful government subsidies and multiple exchange rates. These are important steps toward currency stability, lower inflation, and reduced corruption in Africa’s most populous country.
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2K
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Great to speak with President
@jokowi
at
@G7
Germany to discuss Indonesia’s
@g20org
Presidency & the importance of strengthening global health systems.
I was glad to highlight broad support for the
@WorldBank
’s PPR FIF & to discuss WBG support for urgent food security issues.
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Good meeting today with President
@PedroCastilloTe
of Peru.
We discussed the importance of supporting poor & vulnerable people, promoting growth & prosperity, safely reopening schools, sound macroeconomic management & a favorable business climate.
[1/2]
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Enjoyed seeing
@PMOIndia
@NarendraModi
again on the sidelines of the
@g20org
meetings.
Great talk on debt, health & education issues.
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My thanks to Pakistani Prime Minister
@ImranKhanPTI
for a meeting with his economic ministers to discuss growth issues.
I congratulated Pakistan on its Doing Business gains, & encouraged further reforms in energy, education, & the tax system.
Prime Minister
@ImranKhanPTI
chaired a delegation level meeting with the President
@WorldBank
Group in Islamabad
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Pleased to appoint Anshula Kant as the new
@WorldBank
Group Managing Director & Chief Financial Officer. Anshula brings over 35 yrs of expertise in finance, banking, & innovative use of tech. Look forward to working together to support good dev’t outcomes:
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I am honored to be selected today as
@WorldBank
Group President. Thank you to the Board who, on behalf of 189 shareholders, has given me the mandate to lead this organization of talented and dedicated development professionals in our critical mission to end extreme poverty.
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Just concluded constructive meeting with Pakistan PM Khan where we discussed his important ideas on transformational policies to accelerate equitable growth and job creation for Pakistanis.
@pid_gov
@ImranKhanPTI
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Productive meeting today with Vice President
@ProfOsinbajo
of Nigeria.
Good talks on the importance of exchange rate unification & stabilization, phasing out fuel subsidies, Nigeria's energy transition plan & integrating climate & development.
Readout:
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Womens’ economic empowerment is a global imperative.
Glad
@WorldBank
Group has many strong partners as we seek to further
#EmpowerWomen
entrepreneurs, & I was pleased to join
@DavidSolomon
,
@AnaBotin
, &
@IvankaTrump
to discuss our work today.
Watch Here:
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This afternoon, I was very pleased to meet with President Hassan of Tanzania.
The
@WorldBank
is eager to support the people of Tanzania, which has huge potential for poverty reduction & inclusive growth.
[1/2]
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I am delighted to welcome
@Mari_Pangestu
to the
@WorldBank
Group as Managing Director, Development Policy & Partnerships.
Her appointment will strengthen our operational model & global leadership as we continue to seek good development outcomes.
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The
@WorldBank
stands ready to help Peru on reforming its tax code, improving access & quality of public services & strengthening crisis preparedness.
[2/2]
Full readout:
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It was a wonderful
#Diwali
welcome to Gujarat today by Chief Minister
@vijayrupanibjp
.
Tomorrow, I look forward to speaking on the importance of a strong Indian Civil Service.
#HappyDiwali
to all!
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Enjoyed sitting down with
@PMOIndia
@narendramodi
in Delhi to affirm
@WorldBank
Group support for India in “Amrit Kaal” to achieve & sustain high growth rates.
Important to increase private sector investment & advance India’s energy transition.
Readout:
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I am pleased to announce Makhtar Diop as the new head of
@IFC_org
.
His leadership & experience in development, infrastructure, finance, Africa & more will help IFC pursue private sector development goals as a key part of the
@WorldBank
Group mission.
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Pleased to celebrate 50th anniversary of
@WorldBank
Group's partnership with Bangladesh, with PM Hasina.
Many countries can learn from Bangladesh’s innovative approaches to reducing poverty, empowering women, and adapting to climate change.
My remarks:
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It was my pleasure to accept
@PMOIndia
@narendramodi
’s invitation to deliver today’s keynote
#NITILecture
series address at
@NITIAayog
.
I look forward to working with PM Modi toward a strong + stable Indian financial sector & good progress on financial reforms + modernization.
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I was glad to meet Sudanese Prime Minister
@SudanPMHamdok
for the first time at
#UNGA
.
The
@WorldBank
Group is pleased to coordinate with the new transitional Government of Sudan as they work to promote growth & reduce poverty.
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Enjoyed an interesting conversation with Rwanda’s President
@PaulKagame
at the
@G7
.
#G7Biarritz
provided a good opportunity to discuss Rwanda’s success with reforms & decentralization, as well regional peace, trade facilitation, & digital milestones.
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The
@WorldBank
is announcing $1.78 billion in support for Türkiye following this week's devastating earthquakes.
We are preparing a rapid assessment of the urgent and massive needs on the ground to identify priority areas for recovery and reconstruction.
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Enjoyable breakfast meeting today with Ajay Banga.
Very pleased to be working with Ajay on a smooth transition.
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After 30 years, the
@WorldBank
Group & Somalia took an important step today toward reestablishing financial relations + increasing WBG support for the Somali people.
I thank
@SomaliPM
&
@DrBeileh
for their good work + important reforms.
Read more here:
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Great to hear from
@NarendraModi
today on India’s LiFE initiative focusing on the relationship between communities & their environment.
Adequate pricing policies & institutions combined with the right incentives can alter deeply entrenched habits & help protect the environment.
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Congratulations to Dr.
@NOIweala
on her selection as
@WTO
Director General - an excellent choice.
As Managing Director of the
@WorldBank
Group she was at the center of our global operations & I look forward to a strong new working relationship.
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Very pleased to be visiting India this week.
I look forward to meetings with PM
@narendramodi
and Ministers
@nsitharaman
&
@DrSJaishankar
,
@g20org
finance meetings & to co-chairing the Global Sovereign Debt Roundtable where I will be urging faster progress on debt action.
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During talks with Prime Minister
@AbiyAhmedAli
, I emphasized the importance of ending conflict & achieving lasting peace.
Our new
@WorldBank
projects for health systems & flood management in Ethiopia provide a people-centered approach.
Readout:
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Pleased to meet HRH Prince Edward, Duke of Edinburgh, patron of the
@DofE
.
We discussed ways to strengthen education, life skills training and jobs, and the need to close gaps in schooling access and learning outcomes for girls.
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Today is my last day serving as president of the
@WorldBank
Group.
It has been an immense honor to work alongside so many talented people to support inclusive, sustainable economic growth and improve living standards for people in developing countries.
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The
@WorldBank
Group is taking broad, fast action to reduce the spread of
#COVID19
.
Today’s Board approval allows us to continue this important work & further strengthen developing nations' ability to respond.
Read more here:
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During my talks with
@FinMinistryPak
Minister Muhammad Ishaq Dar, I was happy to reaffirm
@WorldBank
Group support for Pakistan’s flood recovery efforts.
Glad for his thoughts on the importance of Pakistan’s fiscal & energy reforms.
Readout:
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Started my first day
@WorldBank
Group speaking with staff about the urgent task we have to
#EndPoverty
and raise shared prosperity. I’m looking forward to getting underway and am grateful to
@kgeorgieva
for her dedication and leadership while serving as interim President.
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Stressed the importance of transparency, accountability, & respect for the rule of law to DRC President Felix Tshisekedi.
I assured President Tshisekedi that the
@WorldBank
Group will continue to assist the DRC in addressing Ebola & other pressing development issues.
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I am deeply saddened and horrified by the devastating developments in Ukraine, which will have far-reaching economic and social impacts.
When I met with President
@ZelenskyyUa
Saturday in Munich, I reaffirmed the
@WorldBank
Group’s strong support and commitment.
[1/2]
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On behalf of the entire
@WorldBank
Group, I would like to express our sadness and great sense of loss on the death of former Bank Group President James Wolfensohn.
Jim was a dear friend and mentor to many at the Bank, and we will miss him greatly.
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Welcome news from Sudan on unifying & stabilizing its exchange rate.
The Central Bank of Sudan identified nine benefits to the Sudanese people, including reduced smuggling, & increased inflows from remittances, aid, & investment.
[1/3]
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This afternoon, I was glad to speak with President
@ZelenskyyUA
of Ukraine.
We discussed the
@WorldBank
’s “FREE Ukraine” $500m supplemental package that is being submitted to our board today & Ukraine’s need for grant funding through our MDTF.
Readout:
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Racism has no place at the
@WorldBank
Group. It is core to our mission to end racism in our workplace, operations, and communities.
I look forward to joining our senior management team tomorrow at an all-staff townhall to discuss the Bank's progress on this important agenda.
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Very glad to see
@KGeorgieva
,
@NOIweala
&
@DrTedros
on the
@G7
sidelines. We discussed our coordination on vaccine efforts & other health challenges.
Looking forward to continuing our collaborative efforts on other urgent global issues, particularly food shortages.
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I enjoyed talking with
@NSitharaman
and
@DavidSolomon
about ways to empower women as entrepreneurs & leaders.
Starting a business is a powerful tool for women to build a better future. Enabling access to finance, skills and digital technology is key.
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Racial discrimination and social injustice have no place in any of our workplaces or societies.
On
#Juneteenth
, the
@WorldBank
Group is displaying
#EndRacism
banners on our DC offices to recognize this important day.
Read more here:
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I am pleased today to issue the
@WorldBank
Group’s new Climate Change Action Plan 2021-25, to help countries integrate climate and development & use climate finance in ways that achieve the most results.
Read more here:
[1/3]
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I’m pleased to have just arrived in Khartoum.
The
@WorldBank
is eager to support Sudan’s efforts to reduce poverty, boost economic growth & improve livelihoods for all Sudanese people.
Listen to my speech tomorrow:
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My thanks to
@PMOIndia
@narendramodi
for his warm hospitality on
#Diwali
.
As Prime Minister Modi works to lead on infrastructure & its financing, the
@WorldBank
Group looks forward to remaining a close partner with India for broad-based growth & shared, inclusive prosperity.
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Good to see Prime Minister
@NarendraModi
at today’s
@G7
meetings – we discussed energy transition efforts,
@WorldBank
Group programs in India & the importance of debt transparency & sustainability.
I was also glad to affirm WBG support for India’s upcoming
@G20org
Presidency.
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Very nice to see Zimbabwean Minister of Finance
@MthuliNcube
at
#UNGA
.
We discussed the importance of currency + economic liberalization, & I am encouraged by the legislative reforms under consideration.
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Pleased to meet with
@SudanPMHamdok
today in Khartoum.
We discussed Sudan’s progress achieved from fragility to stability, the importance of peace & urgent reforms. The
@WorldBank
Group joins the global community in its support for Sudan.
Readout:
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Very happy to welcome
@MelindaGates
to the
@WorldBank
Group Spring Meetings today, where she discussed how to advance the business case for gender inclusion and equality, to advance women’s full economic empowerment and participation.
Event:
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My thanks to
@FinMinIndia
Minister
@nsitharaman
for hosting a productive first series of
@g20org
Finance Ministers & Central Bank Governors meetings.
Glad to engage with attendees on critical development issues – including debt, climate, digital payments & health. [1/2]
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My deepest sympathies are with the people of Türkiye and Syria affected by the devastating earthquake.
The
@WorldBank
Group will move quickly to support those affected.
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We condemn the attacks in Sri Lanka that have taken so many lives. My thoughts and prayers go out to all who have been impacted by these heartbreaking acts.
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Good news for the Sudanese people &
@SudanPMHamdok
.
It is urgent now to begin arrears clearance to unlock new resources. The
@WorldBank
Group is committed to helping Sudan strengthen its program.
Sudan took a major step back into the international fold on Monday when the U.S. formally removed it from a list of state sponsors of terrorism, ending a 27-year period of isolation
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My thanks to
@SudanPMHamdok
,
@FinanceMinSudan
, Chairman al-Burhan & the people of Sudan for their hospitality & warm welcome to Khartoum.
I am encouraged by Sudan’s progress & commitment toward peace, stability & prosperity.
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Honored to meet with Pres.
@AlsisiOfficial
to discuss progress on
#Egypt
’s economic reforms. Vital to continue expanding the
#privatesector
to create jobs & higher living standards.
@WorldBank
@IFC_org
@miga
look forward to supporting next vital phase of growth-oriented reforms.
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Nice to host
@Lagarde
at the
@WorldBank
. Discussed paths to success for a dozen countries. Also marked the 75th anniversary of the Bretton Woods Conference, led by John Maynard Keynes and Henry Morgenthau, which created
@WorldBank
and
@IMFNews
.
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My congratulations to President
@JoeBiden
& Vice President
@KamalaHarris
on today's inauguration.
The U.S. is a key development partner for the
@WorldBank
Group, & we look forward to working with the Biden Administration toward a green, inclusive, & resilient
#COVID19
recovery.
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I congratulate
@PMEthiopia
Abiy Ahmed on his selection as
@NobelPrize
laureate.
Great recognition of his work inside
#Ethiopia
& promoting peace and prosperity in the broader Horn of Africa. A wonderful day for Ethiopia, and the belief that
#AfricaCan
#EndPoverty
.
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This afternoon, I met with the
@WorldBank
Group’s Board of Directors and informed them of my intention to step down by the end of our June 30 fiscal year.
It has been an honor & privilege to serve as World Bank President. I have written more on
@LinkedIn
:
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Bike to Work Day is May 18 in Washington, DC.
Biking and walking to work have been a great way for me to bring balance to a challenging job.
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Congratulations
@KGeorgieva
on her nomination to be the next IMF Managing Director. Your strong leadership and financial expertise will add value to any institution. Looking forward to continuing our collaboration to seek strong growth policies and greater prosperity worldwide.
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Great to see
#Egypt
’s Benban solar plant, just outside of Aswan. Will be the world’s largest — built in less than 2 yrs with over $2B of
#privatesector
investment led by
@IFC_Org
@WorldBank
@MIGA
:
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Without digitalization, we won’t be able to reap the full benefits of human progress.
A high volume of low cost transactions & remittances brings many benefits to developing countries, including inclusiveness & access to financial systems.
Remarks:
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Congratulations from all the
@WorldBank
Group to Senior Disaster Risk Management Specialist & astronaut recruit Makoto Suwa! He is one of 2 candidates selected by Japan to potentially join an international mission to the moon.
We wish you the very best for your training, Makoto.
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Good call with President
@HHichilema
of Zambia today. Deep debt reduction is a critical step to bring inclusive growth, poverty reduction & higher living standards for all Zambians.
The
@WorldBank
Group is fully committed to support this agenda.
Readout:
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Good to meet with
@UN
Secretary-General
@AntonioGuterres
today.
We discussed the multiple challenges facing developing countries and the need to grow resources for development.
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Great to meet President
@WilliamsRuto
of Kenya to discuss his efforts to resolve conflicts & build regional stability.
Appreciated our talks on Kenya’s fiscal efforts & support for strong, private-sector led growth.
Readout:
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In my first press conference as
@WorldBank
Group President, I shared that we want to see countries with high levels of extreme poverty do better. One of my key goals at the World Bank is to achieve breakthroughs in countries for that to happen
#WBGMeetings
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On behalf of the
@WorldBank
Group, I offer my deepest condolences to the family, friends, and colleagues of former Prime Minister Shinzo Abe — a truly respected global leader.
Our prayers are with the people of Japan at this time of great tragedy and grief.
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.
@IMFNews
MD
@KGeorgieva
and I express our deep shock and sadness at the devastating human and economic toll brought by the war in Ukraine.
The
@WorldBank
Group and IMF are working together with urgency to support the Ukrainian people.
Our statement:
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Vaccines, debt, inequality, transparency & investment are core challenges for Africa.
Today, I was glad to announce the
@WorldBank
Group's commitment to $150b in African investment over the next 5 years.
[1/2]
Read my remarks here:
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As the
@WorldBank
Group works to reduce poverty & boost shared prosperity, we must help countries fully integrate
#climate
& development.
Our new, impact-focused Climate Change Action Plan (CCAP) will do much to help.
[1/3]
Read my full statement here:
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Encouraging talks with President
@GeneralNeva
of Burundi.
Unification of the exchange rate and a phase-out of central bank deficit financing can do much to support growth, private sector & job creation.
Readout:
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It was highly informative to meet with Pakistani women parliamentarians & hear their ideas for increasing female participation in education + the economy.
The
@WorldBank
Group is committed to
#EmpowerWomen
from all walks of life & help them reach their full economic potential.
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Our latest
@WorldBank
forecasts indicate a sharp & long-lasting slowdown that will hit developing countries hard.
Read my remarks from today's
#WBGEP2023
report launch here:
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Today, I met with
@financesrdc
Minister
@nskazadi
on the sidelines of
@g20org
.
I expressed the
@WorldBank
Group’s willingness to support the DRC with infrastructure, education, health,
#COVID19
vaccines & more.
Readout:
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It’s essential that we act to shorten the time to recovery.
The
@WorldBank
Group is committed to a fast, flexible
#COVID19
response.
Today's approval of our increased
@IFC_org
package will provide $2b more in support to businesses & workers.
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On behalf of the entire
@WorldBank
Group, I would like to express our sincere congratulations to
@KGeorgieva
upon her selection as
@IMFNews
Managing Director.
While she will be truly missed, our loss is the Fund’s great gain.
Read my statement here:
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My conversation with Minister
@RaniaAlMashat
of Egypt gave me optimism that her nation will take positive steps toward growth through structural reforms & updated policy frameworks which empower the private sector.
I was especially glad to hear her focus on measurable impacts.
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Pleased to meet with Minister
@MwiguluNchemba1
of Tanzania
@MOFURT
.
We discussed Tanzania’s efforts to boost the private sector, create jobs, and improve climate resilience, and I extended warm regards to President Samia Suluhu Hassan.
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I welcome the clearance of Sudan’s IMF arrears today - a HIPC decision point can move forward at last.
Following clearance of
@WorldBank
arrears in March, this is another important milestone for Sudan.
Read our full release here:
[1/3]
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Very pleased to speak with President
@ZelenskyyUa
at
@G7
Hiroshima.
In response to the Russian invasion, the
@WorldBank
Group has mobilized $23b for Ukraine.
We are supporting key policies to provide relief during the war & to prepare the economy for reconstruction & recovery.
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Very glad that Sudan has cleared arrears to
@WBG_IDA
.
Steps taken so far, including arrears clearance & exchange rate unification, will put Sudan on the path to substantial debt relief, economic revival, & inclusive development.
Read more here:
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This evening I met with President
@FEGnassingbe
of Togo.
We discussed the challenging global environment and need to maintain macroeconomic stability, the potential for Togo as a regional logistics hub, and ways to build resilience against security risks.
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The
@WorldBank
Board has approved a supplemental budget support loan for nearly $500M for Ukraine.
This loan is mobilizing $723M so far, with bilateral support from the Netherlands, Sweden, UK, Japan, Denmark, Latvia, Lithuania, & Iceland.
Read more:
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Glad to meet Minister Shide of
@MoF_Ethiopia
to discuss critical reforms to restore macroeconomic stability.
I urged measures to address economic distortions, hasten debt restructuring, strengthen private sector-led growth, & enable poverty reduction.
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Spoke with Ethiopian PM
@AbiyAhmedAli
on recent
@WorldBank
financing approvals.
Important to unify the expensive dual exchange rate & that Ethiopia and its neighbors sustain constructive dialogue + cooperation on water sharing.
Ethiopia’s success is key to Africa's success.
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Updated
#G20
this AM on
@WorldBank
Group
#COVID19
actions:
- 63 COVID-related country programs underway
- First equipment orders yesterday
- Bulk purchasing begins soon
- More resources available as other MDBs co-finance programs
- Reiterated call for bilateral debt suspension
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Good data is the foundation of both good policymaking & country programs.
Enjoyed visiting the
@WorldBank
-
@UN
@Refugees
Joint Data Center in Copenhagen to discuss efforts to fill data gaps on forced displacement.
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Had an encouraging conversation today at
#UNGA
with Somali President
@M_Farmaajo
. It is encouraging to see that Somalia is focused on growth & entrepreneurship.
I look forward to further progress on telecom reform, fintech + mobile banking projects, & anti-corruption efforts.
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First
#WeFiAbidjan
Regional Summit looks at concrete actions to empower
#Womenentrepreneurs
in
#Africa
with
@dominiqueouat
,
@IvankaTrump
,
@akin_adesina
,
@IsDBPresident
and
@KGeorgieva
:
#WeFi
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The
@WorldBank
Group welcomes the announcements from
@G7
leaders to provide hundreds of millions of
#COVID19
vaccine doses to developing countries.
We stand ready to support deployment & help countries access further vaccines.
[1/3]
Our statement:
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It was good to meet Burkina Faso’s President
@rochkaborepf
at
@G7
, & to speak on the urgent security & economic challenges affecting the Sahel. The
@WorldBank
Group is committed to confronting these difficulties, & to supporting jobs & human capital development.
#G7Biarritz
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188
Held a productive dialogue with Pakistani Education Minister
@Shafqat_Mahmood
& provincial finance + education ministers.
We discussed improving literacy, reducing
#LearningPoverty
, & the importance of policy coordination.
Good educational outcomes are vital for growth.
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Held a positive discussion on opportunities for growth in Africa at today’s UK-Africa Investment Summit.
I emphasized the importance of legal + regulatory reforms that can invite investment in Africa, keep girls in school, & create jobs + employment.
#InvestInAfrica
10
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In light of the growing health concerns related to
#COVID19
, the
@WorldBank
Group,
@IMFNews
& our Executive Boards have agreed to adapt our 2020 Spring Meetings to a virtual format.
Read our full release here:
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