Friday , 12 April 2024
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Deputy Prime Minister Overchuk: World Bank must return to constructive mode

Photo by Arwen Jayne on Unsplash

“The global challenges of our time require that the work of this international institution be returned to a constructive mode and that all its participants concentrate together on solving the problems of poverty and providing coordinated support to the developing countries in need,” he was quoted by RIA News.

Overchuk said that individual countries should abandon attempts to politicize the World Bank.

Earlier, World Bank chief David Malpass called for ways to break the deadlock with servicing and restructuring the debts of the world’s poorest countries.

IMF Managing Director Kristalina Georgieva said that vulnerability of the global economy has grown amid the desire of central banks around the world to contain high inflation.

She also noted that fragmentation of international trade will cost 7% of global GDP.

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