The World Bank Group headquarters in Washington on September 27. Despite today’s “polycrisis” – looming global recession, a strong dollar buffeting many economies, rising energy prices, the ongoing pandemic, and accelerating climate change – World Bank lending has not even kept up with growth since 2017. Photo: Bloomberg
The World Bank Group headquarters in Washington on September 27. Despite today’s “polycrisis” – looming global recession, a strong dollar buffeting many economies, rising energy prices, the ongoing pandemic, and accelerating climate change – World Bank lending has not even kept up with growth since 2017. Photo: Bloomberg
Lawrence H. Summers
Opinion

Opinion

Macroscope by Lawrence H. Summers

4 steps to help the World Bank help the world survive this time of crisis

  • The bank should be a major vehicle for crisis response and supporting the huge investments necessary for healthy global development. But it isn’t
  • Four steps are necessary, if the US and its allies are to regain the trust of the developing world by supporting countries’ highest priorities

The World Bank Group headquarters in Washington on September 27. Despite today’s “polycrisis” – looming global recession, a strong dollar buffeting many economies, rising energy prices, the ongoing pandemic, and accelerating climate change – World Bank lending has not even kept up with growth since 2017. Photo: Bloomberg
The World Bank Group headquarters in Washington on September 27. Despite today’s “polycrisis” – looming global recession, a strong dollar buffeting many economies, rising energy prices, the ongoing pandemic, and accelerating climate change – World Bank lending has not even kept up with growth since 2017. Photo: Bloomberg
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