World Bank President Malpass to step down
David Robert Malpass is an economist from the USA. He has been serving as the President of the World Bank since 2019. He served as Economic Advisor to former US President Donald Trump. He recently announced that he is resigning. He has not completed his term yet. The term of the president of the world bank is five years.
Why is Malpass resigning?
He has been criticized by climate activists since September. He was asked if he agreed that fossil fuel burnings are warming the planet. Malpass refused to answer. Being a physics graduate and an economist, he is well aware of the fact that fossil fuel burnings warm the planet. Yet he chose to stay silent! This is the criticism placed by climate activists.
He played a major role during the US financial crisis of 2007-08. He predicted the crisis and the great recession that followed right.
Malpass was criticised for supporting the environmental policies of Trump. Also, he rarely mentions climate change in his speeches and addresses. In 2021, when Joe Biden became the President of the USA, the country prioritised the fight against climate change. He was called a “Climate Denier”. Climate Denial is the term used to refer to concepts that are creating unwarranted doubts about climate change. In other words, the people who refuse the accept the fact that the “World is facing Climate Change” are called “Climate Deniers”.