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The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva and World Bank President David Malpass concluded on Monday that while poorest nations are suffering the most from multiple crises confronting the world economy, capital that could lessen the pain is flowing primarily to richer nations.
Both leaders discussed how advanced economies are diverting capital from emerging market and developing economies by running larger fiscal deficits and buying only the bonds of advanced economies.
Georgieva said that public money alone could not fill the immense financing gap faced by the world’s poorer nations, but it could open a space for private money to build more resilient economies.
You can watch their interaction below.