World Bank boss vows to expose hidden debt
The new president of the World Bank used one of his first public speeches this week to call for comprehensive transparency over countries’ “hidden” debt burdens that make it harder to resolve a financial crisis.
David Malpass told the annual Global Private Equity Conference in Washington, DC on Tuesday that existing incentives discouraged both borrowers and lenders from disclosing details of loans, which in turn undermined the effectiveness of the investment process.“There's a misalignment of incentives in the borrowers, in the lenders, ...
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