Five ways the World Bank can redefine its role in the global economy

The World Bank is about to enter a moment of significant transition. Former Mastercard Chief Executive Officer Ajay Banga is the sole candidate to be the organization’s next president, with the nomination window now closed, and he could take the helm as soon as early May. He arrives at a time of growing enthusiasm within the United States and other Group of Twenty (G20) nations for reform of international financial institutions and also a moment of significant economic upheaval.

The compounding crises of COVID-19, the war in Ukraine, persistent inflation, and climate change have battered the global economy. Meanwhile, debt, digital, and demographic disruptions are reorganizing the needs for and nature of development investments. To deliver on its mission to “end extreme poverty and promote shared prosperity in a sustainable way,” the World Bank should seize this moment and redefine its role in the global economy. It can start by focusing on these five policy priorities to help address the challenges to inclusive growth in the global economy today.

 
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Πηγή: atlanticcouncil.org