World Bank chief calls for debt relief for poor countries

World Bank President David Malpas warned of deteriorating living conditions in the poorest countries in light of rising food prices and suggested writing off their debt.

He told the German magazine Wirtschaftswoche that high inflation for the poorest countries is an economic and social catastrophe, pointing out that the poorer the country, the more difficult it is to resist rising prices and the consequences of such growth.

According to Malpas, the war in Ukraine should now lead to a rethinking in the rich countries. He urged to free the poor countries from their oppressive debts.