David Malpass
David Malpass is a distinguished economist who served as the 13th President of the World Bank Group. from 2019 to 2023. During his tenure, he oversaw the institution’s largest-ever crisis response, mobilizing a record $440 billion to combat the overlapping impacts of the COVID-19 pandemic, the war in Ukraine, and sharp global economic slowdowns. Prior to the World Bank, he served as Under Secretary for International Affairs at the U.S. Treasury Department. He represented the United States at G7 and G20 ministerial meetings and played a central role in the Financial Stability Board and the IMF. Before his Treasury appointment, Malpass was a renowned international economist and founder of an NYC-based macroeconomics research firm. He also served as the Chief Economist at Bear Stearns, where he conducted extensive financial analyses of global markets. Today, Malpass transitioned into influential advisory and academic roles, serving as the Vice Chairman of American Global Strategies and the Daniels School Distinguished Fellow of International Finance at Purdue University.
David Malpass Professional Experience / Academic History
Professional Experience
-
President
-
Undersecretary of the Treasury for International Affairs
-
Senior Economist
-
Chief Economist and Senior Managing Director
-
Joint Economic Commitee Staff Director
-
Budget Committee Senior Analyst for Taxes and Trade, International Economist
Academic History
-
Master of Business Administration
-
B.A., Physics
WORLD BANK CAREER & CRISIS LEADERSHIP
During his term as the 13th President of the World Bank Group (2019–2023), Malpass led the institution through an era of unprecedented global shocks.
He orchestrated the institution's largest-ever financial mobilization, providing approximately $440 billion in total resources to support health systems, food security, and poverty alleviation in response to the COVID-19 pandemic and the war in Ukraine.
A hallmark of his tenure was the "Evolution Roadmap," a strategic initiative designed to modernize the Bank's operational and financial models to meet contemporary global challenges.
Under his leadership, the Bank saw a historic doubling of climate finance, which reached over $32 billion annually by 2022.
Malpass was a vocal champion for debt transparency, frequently calling on both private and bilateral creditors to provide meaningful restructuring for low-income countries facing unsustainable debt burdens.
GOVERNMENT CAREER HIGHLIGHTS
David Malpass has held significant leadership positions across three United States government administrations, including those of Presidents Reagan, Bush-41, and Trump-45.
Throughout his public service career, he worked on a diverse array of economic, budget, and international policy issues that fundamentally shaped global trade and finance.
He was involved in the development of the 1986 tax cut, the Gramm-Rudman budget law, and several critical congressional budget resolutions.
Malpass played a key role in the Brady Plan for developing country debt and the negotiation of NAFTA, as well as the implementation of fast-track trade authority.
At the Treasury Department, he was instrumental in negotiating a $13 billion capital increase for the World Bank’s lending arms, the IBRD and IFC. This funding was tied to significant internal reforms focused on more efficient capital use and sustainable lending practices.
He previously served as Deputy Assistant Secretary for Developing Nations at the Treasury Department and Deputy Assistant Secretary of State for Latin American Economic Affairs at the State Department.