Central bankers, finance ministers and participants from more than 180 member countries are expected to gather in the US capital for the International Monetary Fund and World Bank's spring meetings in the coming week.
She added that there needs to be a recognition that these challenges aren't separate or conflicting but rather, inextricably linked. Among other things, this includes creating more incentives for the mobilisation of both domestic and private capital.In March, the World Bank submitted an evolution plan to be discussed with its development committee on Apr 12, during the spring meetings.Noting that World Bank President David Malpass has laid a"solid foundation" for the ongoing work, Yellen added that she expects US candidate Ajay Banga to be elected to the helm of the organisation and continue the revamp.
"We're having useful technical discussions on important elements of debt restructuring. China has been participating, and we all continue to press China for improvements," she said.
Source: Loan Digest (loandigest.net)
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