Wow. I’ve been fortunate to be involved in many impactful events during my years at the World Bank, but one of the most memorable will always be the conversation between 16 year-old girls’ education advocate Malala Yousafzai and World Bank Group President Jim Yong Kim during our Annual Meetings last Friday, in honor of the International Day of the Girl Child.
At a time of fundamental uncertainty on global financial markets, how should the World Bank help countries respond? Mohamed El-Erian, CEO of the global bond management giant PIMCO, took on this question during his recent talk at the World Bank, which was part of the PREM seminar series. One of his answers may come as a surprise: Invest in girls' education!
First, some background: El-Erian is one of the most influential figures in the world of finance. His firm manages $1.8 trillion in assets, an amount that comfortably exceeds Japan's foreign-exchange reserves, and he's on Foreign Policy magazine's list of Top 100 global thinkers. As a longtime former IMF official, El-Erian is also intimately familiar with international financial institutions.