Anil Wasif on IMF and World Bank on Addressing Global Challenges | Policy Magazine
October 22, 2024 |Â Alumnus Anil Wasif MPP'21 wrote an about the IMF and the World Bank initiating to promote global economic stability. It has been 80 years since the establishment of these institutions and new challenges have sprung.
Kristalina Georgieva, head of IMF, emphasized the delicate balancing act facing policymakers: how to maintain fiscal prudence while addressing urgent global needs like energy transitions and digital transformation. In a parallel discussion, World Bank President Ajay Banga outlined his vision for a more agile and efficient World Bank. He emphasized the need for speed and simplification in project approvals, which are critical for delivering timely support to countries in need.
"As the world navigates the aftermath of multiple global crises, the Bretton Woods institutions stand at a crossroads. The need for greater speed, flexibility, and innovation in addressing the intertwined challenges of debt, climate, and development is clear. Both Georgieva and Banga are steering their institutions toward a more adaptive and inclusive approach, but the success of these efforts will depend on the collective will of the international community to prioritize long-term stability over short-term interests," wrote Anil.
