Yellen said the bank’s roadmap was a “constructive document” and a good basis for discussion, but more work was needed.
“We have some concerns,” he told Reuters while traveling from Senegal to Zambia. “We would like to see some progress on a quick timeline. And think there are some things that can be done to increase lending given the current capital release.”
Yellen said that working on reforms – first of the World Bank and then of other multilateral development banks – was one of her top priorities this year.
The United States, the bank’s largest shareholder, worked with other countries to push the World Bank to develop a reform plan, which was discussed by the bank’s board on 11 January.
“2023 is the year to achieve specific progress in the short term with the spring meetings (in April) … and the October meetings to lay the groundwork for more fundamental/complex reforms,” said a senior Treasury official.