HUANGSHAN, December 8—Today, World Bank Group President David Malpass met with Liu Kun, Minister of Finance of China.
President Malpass and Minister Liu held productive talks on macroeconomic issues, during which President Malpass was glad to hear Minister Liu’s thoughts on China’s economic outlook, as well as on issues pertaining to the recent slowdown in exports, youth unemployment, and the domestic real estate sector.
President Malpass emphasized the importance of China’s active leadership in addressing unsustainable debt in developing countries and accelerating progress on the ongoing restructuring discussions in Zambia. President Malpass and Minister Liu also exchanged views on debt transparency, reporting and reconciliation, and comparability of treatment among official bilateral and private sector creditors in restructurings.
President Malpass and Minister Liu discussed the cooperation between the World Bank Group and China, including on knowledge sharing, global public goods, and agriculture development. President Malpass raised the importance of reducing excess stocks of food and fertilizer to help with global shortages.
President Malpass was pleased to highlight the World Bank’s recent China Country Climate and Development Report (CCDR) to Minister Liu and was glad to hear the Minister’s thoughts on China’s reforms to lower greenhouse gas emissions.