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Malpass takes Dominguez’s advice, says ‘coordinated outlook’ with ADB in the works

Malpass takes Dominguez's advice, says 'coordinated outlook' with ADB in the works

The new World Bank president has his ears open for the Philippines’ suggestions.

The new World Bank president has his ears open for the Philippines’ suggestions.

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Finance Secretary Carlos Dominguez III may have struck a chord with newly-appointed World Bank President David Malpass when he told the body that there are some redundancies with the work they are doing when compared to the Asian Development Bank (ADB).

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Dominguez brought up the issue during the Annual Spring Meetings of the World Bank in its headquarters in Washington, D.C. no less, lamenting that there are some duplications in the work that could be burdensome for borrowing states like the Philippines.

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Malpass did not let this pass and committed to Dominguez — who had backed his bid to be World Bank president — that he is proposing a “coordinated country program” for member nations of both the World Bank and ADB.

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Malpass said the first step is to draft a coordinated economic outlook via possibly unifying the economic reports and assessments made on the Philippines.

Stay tuned!

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