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The World Bank's headquarters in Washington, DC. Photo by Ryan Rayburn / World Bank

The COVID-19 Crisis Is the Time for the World Bank to Embrace Bold Economic Policies

It is often said that governments “fight the last war” during times of economic crisis. But based on David Malpass’ remarks from last week’s G20 Finance Ministers call, it appears the World Bank is preparing to fight the wars of the 1990s by revamping old—and largely discredited—crisis policy prescriptions to address what is likely to be a severe economic downturn caused by the COVID-19 pandemic.