The Spring Meetings of the World Bank and International Monetary Fund have a different feel about them this year — a sense that change is in the air.
This could be the start of a new era in which the 78-year-old institutions are overhauled and modernized so that they can better tackle global challenges, including climate change.
Much of the focus for now is on the bank, which is undergoing a shareholder-led reform so it can increase its lending and be more agile with how it disburses money. Of course, bank President David Malpass, a Trump-era appointee, will be ending his term early, and Ajay Banga, formerly of Mastercard, is slated to take over in July, injecting a fresh start.