World Bank President, David R. Malpass this morning addressed a press conference to kick off this year’s edition of the International Monetary Fund and The World Bank Group annual and Spring Meetings.
Thousands of delegates from member countries, the press, representatives of observer and civil society organisations annually converge in Washington DC for series of bilateral meetings and events.
THE WHISTLER is covering proceedings of the meetings live in Washington DC.
The World Bank Group President, David Malpass in his opening Remarks at the 2019 Spring Meetings Press Conference raised concerns on the effects of declining growth in advanced and developing countries.
The growth decline by World bank is projected to keep per capita income growth in Sub-Saharan below 1 percent until 2021. And the resultant effect will lead to a rise in the number of people living extreme poverty.
This outlook according to World Bank jeopardizes its primary goal of ending extreme poverty by 2030.
“By 2030, nearly 9 in 10 extremely poor people will be Africans, and half of the worlds poor will be living in fragile and conflict-affected settings,” he said.
The World bank chief called the country most affected by extreme poverty and the global community to action and said he is already meeting with member countries and stakeholders to discuss the challenges.
“I have already begun meeting with member countries and other stakeholders to discuss the challenges ahead, and to advance the broader global development agenda,” he said.
He also assured of the bank’s strength and readiness to offer support.
“Fortunately, the World Bank Group is financially strong. And with the capital package – which was agreed to a year ago at the Spring Meetings, and which I was proud to support – the organization is becoming even more responsive, efficient, and effective.”
This year’s meetings holds from April 9 – 14, 2019 in Washington, D.C.