A special interview with the boss of the World Bank
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 26 October 2022
⏱️ 19 minutes
🧾️ Download transcript
Summary
In a wide ranging interview, David Malpass, president of the World Bank, speaks to presenter Sam Fenwick about the global economic situation.
He talks about the consequences of rising global debt and high inflation, and how poorer countries are bearing the brunt of the economic crisis.
Mr Malpass says the debt caused by the coronavirus pandemic will take decades to pay off, and says many of the subsidies were not targeted. He says a similar situation is being created again with the energy crisis.
Presented and produced by Sam Fenwick.
(Image: David Malpass. Credit: Getty)
Transcript
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| 0:00.0 | I'm Gene Lee. |
| 0:01.1 | And I'm Jeff White. |
| 0:02.1 | And we're back with a brand new episode of our podcast, The Lazarus Heist, recorded in front |
| 0:07.7 | of a live audience in New York City. |
| 0:10.1 | That's our new special live episode of The Lazarus Heist, the podcast about hacking and North |
| 0:15.1 | Korea. |
| 0:15.5 | And we're returning soon with a second season. |
| 0:17.9 | So what better moment to listen to the whole of season one? Or, |
| 0:21.5 | if you've heard it already, listen again. Remind yourself with the whole story. For the new episode |
| 0:25.8 | and for the whole of the first season, search for the Lazarus Heist wherever you found this podcast. |
| 0:36.2 | This is Business Daily from the BBC World Service. Today we have a special interview with the boss of the World Bank. |
| 0:44.3 | David Malpas was elected president of the World Bank in the spring of 2019, before anyone had heard of the sea word, coronavirus. |
| 0:54.0 | Since then, the world economy has been in freefall. |
| 0:57.0 | Inflation has rocketed, and that's pushed the cost of living up for everyone. |
| 1:01.9 | Governments borrowed billions of dollars to get through lockdowns. |
| 1:05.9 | But David Malpas warns it'll take decades to pay that debt off. |
| 1:09.6 | And in the meantime, the poorest countries will be the worst affected. |
| 1:15.1 | My name is Sam Fenwick. |
| 1:16.8 | And this is my interview with the President of the World Bank, David Malpass. |
| 1:22.7 | So first of all, David, every morning we wake up, don't we? |
| 1:27.0 | And we seem to wake up to more grim news, |
| 1:30.1 | grim news about the economy, large amounts of debt. And I just wonder, do you wake up in the morning |
... |
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