Tag: world bank

NEWS

Barbados Prime Minister Mia Mottley Calls For World Bank Reform

Barbados Prime Minister Mia Mottley has called for a change in the operations of the World Bank. The Prime Minister has urged the World Bank to adopt a similar outlook to the International Monetary Fund (IMF) in how it treats with business in a changing global environment. Miss Mottley told a panel discussion that the World Bank is still a […]

BUSINESS

Short Term Policy Fix — World Bank Warns

The World Bank has warned against short-term policy decisions to tackle food insecurity. Ayhan Kose Director of the World Bank’s Prospects Group, says while food inflation has hit a record high, some policy directions could send economies into the red. Responding to the crisis with measures such as export bans, food, and fuel subsidies, and price controls should be avoided, […]

BUSINESS

Grenada Gets US$25 Million From World Bank

The World Bank Board has approved the financing of US$25 million for Grenada’s First Recovery and Resilience Programmatic Development Policy Credit. The World Bank says the COVID-19 pandemic caused massive socio-economic impacts, which are expected to exacerbate the pre-existing vulnerabilities of Grenada as a small island developing state. The financing is expected to help support Grenada’s recovery by promoting a […]

NEWS

IMF Approves $1.4 Billion Emergency Funding For Ukraine

The International Monetary Fund (IMF) has approved $1.4 billion of emergency funding for Ukraine, as the country contends with the onslaught of Russian firepower in an unprovoked invasion. It comes as the IMF predicts Ukraine will see a deep recession this year. Earlier, the World Bank approved a $732 million financial package for Ukraine and is planning more economic assistance […]

NEWS

World Bank Decries Inequity In Global Wealth Growth

The World Bank says global wealth has grown but at the expense of future prosperity and by exacerbating inequalities. The Washington-based financial institution, in its new Changing Wealth of Nations report released recently, noted that although total wealth has almost doubled in Latin America and the Caribbean over the last two decades, there are significant contrasts in the trends of […]

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. […]