World Bank President David Malpass Virtual News Conference

At a virtual press conference, World Bank President David Malpass said the coronavirus pandemic was causing economic harm and to expect “a deep global recession.” He added that the recession would be a much deeper downturn than the Great Recession. He also announced that the World Bank was committing up to $160 billion over the next 15 months to help countries respond to the pandemic. Other questions focused on financial transparency, work-from-home challenges in developing countries, the pandemic’s impact on tourism, and coordination with the International Monetary Fund (IMF). close