“There are so many challenges that you can’t just talk, you have to act,” said Trotsenburg, the bank’s new senior managing director.
barely wears four days in officeand axel van trotsenburghe new senior managing director of the Bank world He travels from one country to another trying to bring answers to the economic problems of each country. “We have to do more”confessed to EFE the number two largest development agency in the world In an interview.
Van Trotsenburg has just returned from a trip to China where he discussed, among other things, the process for restructure the debt of poor countriesand next week will present the plan of reforms of the new directive of the organism during their spring meetings with the International Monetary Fund (IMF).
“The World Bank is one of the few institutions capable of upping the ante. There are so many challenges that you can’t just talk, you have to act”said Trotsenburg.
He rising poverty, food crisis, climate change or economic uncertainty are just some of these challenges, but to face them the collaboration of the private sector will be necessarybecause “billions are needed, not billions” of dollars.
More financing and less debt
Regarding the plans of the organization led by David Malpass, Van Trotsenburg explained that the governors of the World Bank will soon decide the approval of a new financing package worth US$50,000 million in loans for middle income countrieswhich will be in force for the next ten years.
In addition, for the low income countriesthe directive wants to get more money for emergency funds against crises such as food, but above all that they be made efforts to improve the sustainability of its public debt.
“If you end up in a debt crisis, you risk losing years (of development)”explained the economist, so appealed to creditor countries, and especially to Chinaso that they act quickly to relieve the debt of African countries that are at risk of default, such as Zambia.
Both the World Bank and the IMF recently participated in the creation of a “round table” within the G20 to go through them debt restructuring processes under the call Common Frameworkwhose presidency is held this year by India.
Source: Ambito
