THE global economy, post the COVID-19 pandemic, is seeing a faster global growth backed on the strong rebounds experienced by the US, China and India, said World Bank Group President Mr David Malpass on Wednesday.

"There is also the concern that there's inequality," he said at a virtual news conference at the week-long annual Spring Meetings of the International Monetary Fund (IMF) and the World Bank.

He touched on several factors exacerbating inequality worldwide, including uneven vaccine access, stagnant or falling median incomes, higher interest rates for poor countries and no bankruptcy option for sovereign nations. Inequality in credit access, he said, spans socio-economic classes and genders with new entrants and women entrepreneurs running into roadblocks.

"There is the good news that there is faster global growth driven primarily by the US China, and India, having strong rebounds," he said.

Providing an update on his conversations with leaders from the G7, G20 and G24, as well as climate campaigners and the private sector, Mr Malpass said the Spring Meetings will focus on vaccines, climate, debt and recovery.

The World Bank chief said the G20 bloc had welcomed the acceleration of the 20th replenishment of the International Development Association (IDA) to provide financing via concessional aid and grants to low-income nations.

The G20 leaders have also endorsed extending the Debt Service Suspension Initiative (DSSI) through the end of 2021, and have shown keenness to discuss transparency in the debt contracts, Mr Malpass said. The World Bank and IMF are working closely to successfully implement the G20's Common Framework to deal with unsustainable debt situations.

There was a call for the private sector to provide comparable treatment with regard to debt, he said.