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Statement October 19, 2019

Statement from World Bank Group President David Malpass on 2019 World Bank Group – International Monetary Fund Annual Meetings

WASHINGTON, October 19, 2019—World Bank Group President David Malpass today issued the following statement on the 2019 World Bank/IMF Annual Meetings:

“Discussions this week have been focused on challenges in the global economy. Growth is slowing, investment is sluggish, manufacturing activity is soft, and trade is weakening. Climate change and fragility are making poor countries more vulnerable. But the good news is, broad-based growth is still possible.

My message to our shareholders has been simple: The choices you make now matter. With the right mix of policies and structural reforms, countries can unleash growth that is both sustainable and broadly shared across all segments of society.  This is especially true in emerging markets and developing countries, where well-designed reforms can deliver meaningful gains.

To help make this happen, we at the World Bank Group are staying focused on our mission. We’re helping countries build strong programs, tailored to the unique circumstances of their economies. We’re encouraging innovations that attract private sector investment, such as digital money. We’re promoting the rule of law, and transparency, and debt management in public finances. We’re investing to help countries gain access to electricity and clean water, to ensure the full inclusion of girls and women, to address climate change and protect the environment, to improve health and nutrition, and to bolster infrastructure.

We cannot let today’s challenges be a roadblock to better development outcomes.”