World Bank expects global growth of 5.7% in 2021 and 4.4% in 2022

World Bank President David Malpass said on Monday that they are expecting global economic growth of 5.7% in 2021 and 4.4% in 2022, as reported by Reuters.

Additional takeaways

"World seeing tragic reversals in development, progress in reducing extreme poverty set back by years due to pandemic."

"Looking for ways to make G20 common framework for debt restructuring more effective and avoid cliff when current freeze in bilateral debt payments ends at end of 2021."

Further suspension of debt payments could be considered as part of implementation of common framework treatment."

"World Bank hopes to raise $100 billion in donations for international development association fund for poorer countries."

Market reaction

These comments don't seem to be having a noticeable impact on market sentiment. As of writing, the S&P 500 Index was up 0.2% on the day at 4,400.