Tag: world bank

EDUCATION

COVID-related School Closures Could Push Millions Of Children Into Learning Poverty

According to two recent World Bank reports, COVID-related school closures risk pushing an additional 72 million primary school-aged children into learning poverty. The report noted that children will be unable to read and understand a simple text by age 10. The report outlines a new vision for learning and the investments and policies, including on education technology, that countries can implement […]

NEWS

World Bank Reveals Surge In Economic Inclusion Programs

The World Bank’s State of Economic Inclusion 2021 Report has revealed that economic inclusion programs are on the rise in 75 countries around the world, reaching approximately 20 million poor and vulnerable households, and benefiting nearly 92 million individuals. This surge according to the report comes at a crucial time as more than 700 million people around the world face extreme […]

NEWS

World Bank Warns — Extreme Poverty Is In The Making

According to the World Bank, extreme poverty is set to rise for the first time since 1998. The organization noted that the coronavirus pandemic is expected to throw over 115 million people on the heap of poverty. Moreover, it noted that this could rise to over 150 million by 2021. It also stated that the pandemic is compounding the forces […]

BUSINESS

Economist — Five Years At Least For Global Economic Recovery

Carmen Reinhart, World Bank Chief Economist, has said the global economic recovery from the recession created by the COVID-19 pandemic will probably take at least five years. The economist, however, underscored the point that there will be rebounds. However, she said the real recovery will have direct bearing on how long the average person rebounds in terms of their income. […]

NEWS

World Bank Set Goal To Reduce Extreme Poverty

The vagaries of COVID-19 present a massive challenge to the World Bank’s goal of reducing the global extreme poverty rate to three percent by 2030. The agency has lamented the setback the pandemic has caused to developing economies, wiping out much of the international community’s efforts. The World Bank has argued that the progress made in tackling poverty, with the […]

POLITICS

Tough Times Ahead For Latin America And The Caribbean

The IMF, the World Bank, and the Inter-American Development Bank have predicted tough times ahead for the Caribbean and Latin American countries this year. The IMF says the region is likely to see a 5.2% decline in growth while The World Bank says Gross Domestic Product is expected to be -4.6%. Those forecast to see the worst are Grenada and […]

POLITICS

Guyana’s Economy Set To Grow By 5.1%

With a per capita gross domestic product of $8,300 in 2016 and average GDP growth of 4.2% over the last decade, Guyana is one of the fastest developing countries in the Western Hemisphere. The country is expected to see an overall economic growth of 5.1 percent for this year, with further growth over the next two years. The World Bank, […]

Jamaica

Jamaica Moves Up In World Bank Rankings

Jamaica has moved up four places in the World Bank’s Doing Business Report Rankings. In the 2020 Report, released yesterday, Jamaica is ranked at 71 out of 190 countries, moving from its 75th position in 2019. The country received a score of 69.7%. Jamaica had fallen in the rankings for three consecutive years. The island’s best ranking is in the […]