This International Monetary Fund (IMF) and World Bank (WB) This Monday signaled the start of the annual spring meeting. Both organizations are economy High inflation and the war in Ukraine left their mark.
World Bank President David Malpass at the presentation of the event “deep concern” for what the price hike represents especially for developing countries in sectors such as energy, fertilizers and food.
Malpass lamented a macroeconomic scenario in which inflation “further lowers economic growth rates and increases poverty figures” as the war in Ukraine and the covid-19 pandemic continue.
In this sense, her colleague at the head of the IMF, Kristalina Georgieva, In his traditional speech before parliament last week, he announced that the institution had lowered its growth forecasts for 143 countries.This represents an impact on 86% of the world’s gross domestic product (GDP).
All through the day on Monday, speeches by economists and senior officials were clouded by pessimism about the future of the economy, but specific and detailed figures by country will not be known until tomorrow. Despite the expected overall decline in forecasts, the IMF assures that most countries will remain in positive territory.
Malala, guest of honor
Georgieva started her busy schedule with a virtual dialogue on Monday. Women, economics and education with Malala Yousafzai, Pakistani girls’ rights activist and 2014 Nobel Peace Prize winner.
During the conversation, Yousafzai, whose name is Malala – asked rich countries to invest more money in the education of girls in developing countries, especially after the impact of the covid-19 pandemic.
“We know there is one huge gap in education financing between rich and poor countries. Donors (net contributors to the IMF) should increase education funding for girls, especially in poor countries.”
The activist also offered to turn a blind eye to rich countries. borrowing or at least “making exceptions” with poor countries so that their financial obligations Do not prevent girls from devoting resources to their education.
Among Malala’s proposed investments Guarantee access to technologies so girls in developing countries can attend virtual classes. The activist, who rose to fame ten years ago, graduated from Oxford University in England in 2020 and got married last year.
On your own behalf Georgieva said she shares the same passion as Malala when it comes to girls’ education.and he made sure that this was something he tried to convey in his interactions with finance ministers around the world.
Taxes on “excessive” earnings
Parliament started with a ceremony Presentation of a report in which experts of the fund propose to temporarily increase taxes on companies with “excessive” profits to help “reduce the burden” of public aid to governments due to the pandemic.
“General principle public finance In response to a question from Efe, one of the authors of the report, Jean-Marc Natal Fund economist, at a virtual press conference, you should find out where the resources are and try to compensate those who suffer the most.
According to Natal, the specifics of a crisis like the one caused by the pandemic made it even more difficult.e Some companies in certain industries have suffered harsh results, while others – such as electronic commerce or technology firms – have made huge profits.
So the idea is that these companies that have benefited from the pandemic for two years will pay. additional tax and temporary, which serves to compensate for those most affected.
“This is something that has already been done on other occasions in the past, such as dafter the warsand it is a form of redistribution,” stressed the economist.