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World Bank chief to step down earlier than 2024

World Bank chief David Malpass announced that he will step down earlier than 2024. He was appointed to the role in 2019 when Donald Trump was president and previously served as Under Secretary of the Treasury for international affairs. His tenure at the World Bank saw the organisation grapple with global crises such as the Covid-19 pandemic, the Russian invasion of Ukraine, and an international economic slowdown. In recent months, Malpass has come up against calls for his resignation or removal. The White House previously rebuked Malpass, with Press Secretary Karine Jean-Pierre saying the expectation was for the bank to be a global leader on climate crisis response. Treasury Secretary Janet Yellen said the world has benefitted from his strong support for Ukraine, his work to assist the Afghan people, and his commitment to helping low-income countries achieve debt sustainability through debt reduction.

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