World Bank President David Malpass to visit India later this month

World Bank President David Malpass on Thursday said that he would travel to India later this month where he will discuss the challenges in the financial sector.

“I will be travelling to India and Pakistan in October. In India, I hope to discuss the challenges in the financial sector where progress can be made and help India grow even faster than it is,” the President said at a news conference at the start of the annual meetings of the World Bank here.

Malpass, who is scheduled to meet Prime Minister Narendra Modi and other top leaders during his visit, added, “My purpose is to see all people in India doing better and that comes through broad-based growth. I think India is a good example of a country that’s been able to grow fast by improving the system, having more flexibility within the markets of the system, and I think there’s more progress that can be made there.”

India is growing in a positive number, but not fast enough, he said, adding that policies can improve to help with faster growth.

He refrained from giving any response to a question on the recent growth rate projections by the World Bank, saying that there’s a range of opinions on this.

“You know there’s a range of opinions. So I don’t so much have an opinion on what the growth rate is. We publish the growth rates within our Global Economic Prospects report,” he said.

During his tour to the region, Malpass will also be paying a visit to Pakistan, where he will meet Prime Minister Imran Khan and discuss the current economic situation in the country.

“In Pakistan, we are observing substantial structural reforms and changes going on in not only the national level but also the provincial and city level. The country is facing challenges in terms of the agricultural system, in terms of the land system, in terms of the financial system. We’re working on all of those (issues) and others in Pakistan as well,” he said.

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