World Bank Chief Calls for Urgency on Poor Nations’ Debt at G-7
- Malpass says transparency, reconciliation are key for solution
- Says China should be full participant in Sri Lanka debt talks
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Group of Seven policymakers must recognize the urgent need to tackle debt problems in developing nations and should discuss ways to bring more transparency to the issue, World Bank President David Malpass said.
“What I hope can be discussed at the G-7 on debt is the urgency of restructurings getting done,” Malpass said about the group’s gathering of financial ministers and central bankers this week in Niigata, Japan. “The slow growth in developing countries has consequences worldwide in terms of human suffering, in terms of migration flows.”