US, China, India promote rapid global growth: World Bank chief

Rapid Global Growth Driven by US, China, India: World Bank Chief. (File)

Washington:

Now a fast global development driven primarily by the US, China and India, World Bank President David Malpas even said he expressed concern over the growing inequality caused by the COVID-19 epidemic.

He said here that the concern of inequality in terms of vaccination and average income is also not growing very fast for some countries.

“But there is also concern that there is inequality. Inequality in terms of vaccination, in terms of medieval income that is not growing very fast for some countries and may even go down. Here is the interest rate differential, where the poor are He said that countries have faced very high interest rates and they have not reduced global interest rates.

“The good news is that there is strong global growth, mainly by the US, China and India, which is a strong rebound,” Malag told reporters at the beginning of the Spring Meeting of the International Monetary Fund (IMF) and the World Bank.

The annual spring meeting, which is being held virtually, focuses on vaccines, climate change, debt and recovery.

Malpas said that there is an inequality in terms of the bankruptcy process, which is not available to sovereign countries, so poor countries do not have a way out of these heavy debt burdens.

“There is also a disparity in terms of access to credit with a lot of encouragement going to the upper end, and people who don’t have ancient credit ratings, for example, or small businesses, new entrants, women who would like to start a business. For, it is very difficult to get credit, ”he said.

According to Malg, the World Bank and IMF are working together to deal with uncertain credit conditions for the successful implementation of the Jesus Common Framework.

He said that there was a call to provide comparable treatment in respect of loans to the private sector.

Responding to a question, Mallog said sluggishness is mentioned in the vaccine rollout, particularly in Europe.

“It’s disappointing. We see some of the challenges that countries face every day. I believe or wish for a faster rollout and hope that more countries will become more available. And, we Regulators can look at agencies. Work smoothly towards their approval so that more vaccines are approved.

He said that vaccinating people is an important part of their safety and global improvement.

“So, I share the sentiment that Germany has stated today in the G20 that forecasts related to the vaccine problem of their Gross Domestic Product (GDP) growth may be moderating, and that is the urgency of everyone and the world. Redefines efforts to have more vaccines available throughout “,” Malpas added.

(This story is not edited by NDTV staff and auto-generated from a syndicated feed.)

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