Closing the Divide: Strengthening World Bank Goals to Fight Inequality
October 12, 2023
IMF/WB Annual Meetings
Professor Joseph Stiglitz, high-level representatives from the German and Sierra Leone Governments, and the Executive Director of Oxfam International, call on the World Bank to urgently introduce new goals and indicators to ensure a rapid reduction in inequality both at national and global levels. The panel reflect growing pressure on the World Bank to do more to tackle inequality. The gap between rich and poor is rising in four out of ten of the countries where the World Bank works, both governmental and non-governmental actors are calling for bolder goals and targets to tackle inequality and measure progress.
In July 2023, over 225 economists and inequality leaders wrote to World Bank President Ajay Banga calling on the World Bank to strengthen its indicators and goals on inequality. This included Nobel Laureate Joseph Stiglitz, a former UN Secretary General and a large number of high-level UN staff, four former World Bank Chief Economists and many other former World Bank staff.
- Professor Joseph Stiglitz, Professor, Columbia University
- H.E. Sheku A. F. Bangura, Minister of Finance, Sierra Leone
- H.E. Niels Annen, Parliamentary State Secretary to the Federal Minister for Economic Cooperation and Development, Germany
- Amitabh Behar, Executive Director, Oxfam