World News


Trump’s Development Bank Challenge

President Trump, and his new nominee to lead the World Bank, David Malpass, have an issue with the manner in which the World Bank and other multilateral development banks (MDBs) do business. Specifically, Malpass objects to the size, intrusiveness, and entrenched interests within these institutions, and the very idea that such banks, which are supposed to be all about promoting development and alleviating poverty, continue to lend to the world’s second largest economy, with the world’s largest aggregation of foreign exchange: China.