David Malpass Hopes His Presidency at World Bank Will Hike Countries’ Median Income


The United States’ nominee for the World Bank Presidency, David Malpass, spoke for the first time on Wednesday, revealing his main agenda once his nomination is approved. Malpass said that he targets focusing on significantly improving the median income for countries that have been performing poorly economically. He also said that he would be focusing on establishing peace and economic stability; two of the most important elements that should be focused on in the 21st century to bring Third World Countries at par with their First World counterparts.

Malpas expressed his hope that shareholders at the World Bank will confirm his presidency and that he would immediately after embark on a mission to oversee other countries performed better, thereby benefiting the US directly and indirectly. During the interview, Malpass said that negotiated talks with other shareholders within the international financial institution would ensure that policies targeted at moving countries forward would be fronted and successfully implemented.

Malpass’ 30 years of career in the international economics and business fields have given him tremendous experience and skills on how to help see countries perform better and thereby grow faster. At the age of 62, Malpass’ experience in economics, foreign and government policy, and finance forms part of the reason why President Trump sought to nominate him for the top seat at the World Bank.

Treasury also anticipates using Malpass’ position at the World Bank as a key pillar to influence the US-China trade negotiations that have been shrouded in tensions. Treasury secretary, Steve Mnuchin, said in a statement on Wednesday that David Malpass has been working with the Treasury Department over the last couple of years in an agenda seeking to see a fair trade with other countries and enhancement of the jobs market.

Speaking to reporters, Malpass also weighed in on the brewing Venezuelan crisis. He expressed hope that a democratic government will prevail following the clashes between demonstrators supporting and those opposing the Nicolas Maduro presidency. He anticipated that the Venezuelan economy and financial performance would revamp, leading to recognition in the world map economically. This will, however, depend on whether a democratic establishment of a political system will be put in place.

The opportunity that the Venezuelan people have, according to David Malpass, is significantly huge and includes oil reserves and resources as well as capital within the public and private sector. Successful utilization of those resources will depend on the outcome of the current crisis.


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