24 November 2023

World Bank President David Malpass will step down from his post as head of the development institution by June 30, the organization said in a statement released on Wednesday (February 15). The reason for his departure has not been specified at this time.

Aged 66, David Malpass, thirteenth president of the Washington institution, informed the board of directors on Wednesday of his intention to leave this post which he held for four years, one can read in the press release.

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 Mr. Malpass, quoted in the press release, seeing there “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”underlined the American in a note sent to the teams of the World Bank, and that Agence France-Presse (AFP) was able to consult.

A loyal supporter of Donald Trump

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”the World Bank said in its press release.

“Over the past four years, the five institutions of the World Bank Group (IBRD, IDA, IFC, MIGA and Cirdi) have responded quickly to global crises, mobilizing a record $440 billion in response to the Covid-19 pandemic. 19, to the war in Ukraine, the sharp global economic slowdown, the unsustainable debt burden, climate change and shortages of food, fertilizer and energy”it is specified.

David Malpass was, before his arrival at the World Bank, undersecretary to the treasury for international affairs in the administration of Republican Donald Trump, of which he was a faithful.

Read also: Accused of being climatosceptic, the boss of the World Bank does not plan to resign

The World with AFP

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