https://www.washingtonpost.com/washington-post-live/2022/03/14/path-forward-david-malpass-president-world-bank-group/
MR. IGNATIUS: Welcome to Washington Post Live. I’m David Ignatius, a columnist for The Post. My guest today is David Malpass, the president of the World Bank. The world economy has been a rollercoaster the last two years, first with the COVID pandemic, now with terrible violence and disruption of the Ukraine war. Mr. Malpass is going to help us see our way through this turmoil. Thank you so much for joining us today on Washington Post Live, Mr. Malpass.
MR. MALPASS: Thank you for having me, David. Good to see you.
MR. IGNATIUS: So, sir, I want to begin with the Ukraine war. On March the 1st, a week into the war, you issued a joint statement with Kristalina Georgieva, the head of the IMF, warning that the war was creating–and I’m quoting here–“significant spillovers to other countries” and that disruption of financial markets will continue to worsen should the conflict persist and that sanctions that were then being imposed will also have a significant economic effect. We’re now in the third week of this war, and I want to ask you to give us an assessment of the damage to the international economy so far and what’s ahead given current trends.
MR. MALPASS: We can see there’s a massive impact, David. It extends from energy and food supplies to the long-run problems of rebuilding or of reconstruction of all of the destruction that’s going on in Ukraine. So in addition to our horror at the human catastrophe, we have to look at the global economy and see that it’s a big negative. There’s the lost supply from Russia and Ukraine. But there’s also hoarding, which I’ve talked about, that people need to really avoid that, because that in itself drives up prices, and that has the biggest impact on the poor. What our–one of my focuses and the focus of the World Bank is on poorer countries around the world and the people in those countries, and they are immediately affected by the rise in prices that’s occurring now.