He said that concerns about inequality in terms of vaccination and average income are not growing too fast for some countries.
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 that concerns about inequality in terms of vaccination and average income are not growing too fast for some countries.
“But there is also a concern that there is inequality. Inequality in terms of vaccination, in terms of average income which is not rising very fast for some countries and may go down. He said that there is a difference in the interest rate Poor countries have to face very high interest rates and they have not come down in the way of global interest rates.
At the beginning of the Spring Meeting of the International Monetary Fund (IMF) and the World, Mr. Malpas told reporters, “The good news is that rapid global growth is being fueled mainly by the United States, China and India.” Bank
The annual spring meeting, which is being held virtually, focuses on vaccines, climate change, debt and recovery.
Mr. 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 huge debt burdens.
“There is also a disparity in access to credit with a lot of incentives going to the upper end, and people who do not have ancient credit ratings, for example, or want to start small businesses, new entrants, women in business. “It is very difficult to get credit,” he said.
According to Mr. Malpas, the World Bank and IMF are working together to deal with uncertain credit conditions for the successful implementation of the Common Framework of GST.
He said that there was a call to provide comparable treatment in respect of loans to the private sector.
Responding to a question, Mr. Malpas said that the vaccine rollout is a subject of lethargy, especially in Europe.
“It’s disappointing. We see daily in the news that some of the countries face various challenges. I increasingly believe or desire and expect a faster rollout as more countries become more available. And, we can look to regulatory agencies to 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 their GDP growth (GDP) estimates related to the vaccine problem may be softer, and that is a measure of everyone’s urgency and worldwide In India redefines efforts to have more vaccines available, “said Mr. Malpas.
.
