World Bank President David Malpass announced his resignation on Wednesday. He will leave his post at the head of the development institution on June 30, the organization said in a press release published on Wednesday, without specifying the reason for his departure. David Malpass, 66, the 13th president of the Washington institution, informed the board of directors on Wednesday of his intention to step down from the position he held for four years, the statement said.
The World Bank Group “is fundamentally sound, financially viable and well positioned to increase its development impact in the face of pressing global crises,” said David Malpass, quoted in the press release, seeing it as “an opportunity for a smooth leadership transition. “.
“As I pursue new challenges, I would like to thank all of our staff and our boards of directors,” said the American in a note sent to the teams of the World Bank, and which AFP was able to consult.
Increase economic growth
David Malpass has, during his four years in office, “focused on finding stronger policies to increase economic growth, reduce poverty, improve living standards and reduce the burden of public debt”, said underlined the World Bank in its press release.
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“Over the past four years, the five institutions of the World Bank Group (IBRD, IDA, IFC, MIGA and ICSID) have responded quickly to global crises, mobilizing a record $440 billion in response to the Covid-19 pandemic. 19, the war in Ukraine, the sharp global economic slowdown, the unsustainable debt burden, climate change and shortages of food, fertilizer and energy.
David Malpass was, before his arrival at the World Bank, Undersecretary of the Treasury for International Affairs in the administration of Republican Donald Trump, of which he was a faithful. An unspoken rule grants the management of the World Bank to an American, and that of the International Monetary Fund (IMF) to a European.
