World Bank Panel Urges Focus on Jobs, Gender Equality, and AI in a Shifting Global Economy

By zainab.joaque@awokonewspapersl.com

Washington, D.C. — As the world grapples with economic uncertainty, leaders at the World Bank’s Spring Meetings made a resounding call: put the dignity of work at the center of global development.

In a lively discussion moderated by CNN journalist Julia Chatterley, World Bank Group President Ajay Banga, former Chilean President Michelle Bachelet, and Singapore’s President Tharman Shanmugaratnam tackled some of the most pressing issues of our time — from job creation and gender equality to the disruptive potential of artificial intelligence (AI).

Reflecting on his two years at the helm, Banga spoke candidly about his experience leading the World Bank. He praised the deep talent within the organization, calling its breadth of expertise “a pleasant surprise.”

However, he noted that organizational silos still hinder the Bank’s full potential. “We have the tools — now we need to work as one,” he stressed, emphasizing the Bank’s ability to drive job creation by uniting its public and private sector arms.

Taking a passionate stand for gender equality, Bachelet warned that systemic barriers to women’s participation in the workforce are costing the world dearly.

“We are losing an enormous opportunity by not fully including women,” she said. Citing a study from Chile’s central bank, Bachelet revealed that unpaid care work contributes nearly a quarter of the nation’s economy — a reminder of the hidden, often undervalued labor women provide.

She urged leaders to address unpaid care work, ensure equal pay for equal work, and increase women’s representation in leadership roles. President Shanmugaratnam strongly agreed, calling the underutilization of women’s talents “the largest untapped source of global growth today.”

Shanmugaratnam shifted the conversation to the future of work, urging policymakers to look beyond zero-sum competition and focus on expanding economic opportunity.

“There’s a real chance to add a billion people to the global middle class in the next five years,” he said, pointing particularly to developing nations.

He stressed the need to boost manufacturing, agribusiness, and regional trade, highlighting Sub-Saharan Africa’s potential. “It’s criminal,” he said of the continent’s lack of downstream processing industries, advocating for more value-added production to help African countries secure greater economic rewards.

All three leaders acknowledged the uncertain future posed by AI. Shanmugaratnam advised developing nations to harness AI to boost productivity rather than fear it, while Bachelet warned of a widening technological divide, particularly across Africa.

Closing the session, Banga returned to the importance of meaningful work. “Jobs are the best north star we can have,” he said, emphasizing the need for private sector innovation and investment to drive inclusive growth.

At a time when geopolitical tensions, rapid technological change, and economic volatility dominate headlines, the panelists’ message was clear: tackling inequality, embracing innovation, and creating jobs with dignity must be at the heart of the global development agenda. ZIJ/28/4/2025

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