Rio de Janeiro: US President Joe Biden announced that America will pledge USD 4 Billion over the period of the next 3 years to replenish the World Bank‘s International Development Association. In a post on X, Biden shared, “This week I joined World Bank President Banga to announce the United States will pledge $4 billion … Read more
Pakistan has requested an additional 10 billion yuan (USD 1.4 billion) loan from China as the cash-strapped country has already used the existing 30 billion yuan (USD 4.3 billion) Chinese trade facility, a media report said on Sunday. Finance Minister Muhammad Aurangzeb, who met with China’s Vice Minister of Finance Liao Min on the sidelines … Read more
भारत दुनिया में सबसे तेजी से आगे बढ़ती हुई अर्थव्यवस्था (India Fastest Growing Economy) बना हुआ है. वहीं प्रधानमंत्री नरेंद्र मोदी (PM Narendra Modi) के नेतृत्व वाली सरकार ने देश को विकसित राष्ट्र बनाने का टारगेट टॉप पर रखा है और इसके लिए 2047 तक की डेडलाइन तय की है. वहीं इस बीच हाल ही … Read more
Global development institution International Finance Corporation (IFC), a member of the World Bank Group, has invested over Rs 650 crore in K Raheja Corp-backed Mindspace Business Parks REIT through an issue of sustainability-linked bonds. This is a maiden sustainability-linked fundraising by any listed Real Estate Investment Trusts (REITs) in India. This follows the REIT’s issuance … Read more
Washington: Strong economic activity in the United States and emerging markets is projected to help drive global growth by about 3% this year, the International Monetary Fund’s chief said Thursday, below the annual historic average and a warning sign about potential lackluster performances through the 2020s. “Without a course correction, we are indeed heading for … Read more
The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many developing countries. Hamstrung by the COVID-19 pandemic, then the war in Ukraine and ensuing spikes in inflation and interest rates around the world, the first … Read more
World Bank President Ajay Banga on Tuesday batted for removing barriers to private sector investment, saying it is key to tackling challenges before the global economy as neither the governments nor multilateral banks have trillions of dollars in their coffers. Speaking to World Economic Forum Founder and Executive Chairman Klaus Schwab in a podcast ahead … Read more
Pakistan‘s current economic model is not working, a top World Bank official has said, underlining that the cash-strapped nation must change policies that have plagued development and benefitted only a few. The remarks by World Bank Country Director Najy Benhassine came in a Policy Vision article, published in the latest UNDP publication. Pakistan’s current economic … Read more
India witnessed a surge in formal job creation for women since 2018-19 with net new addition of female employees under the Employees’ Provident Fund Organisation (EPFO) more than doubling in the last five years as companies become more inclusive and move towards greater gender parity. The payroll data for EPFO showed net new addition of … Read more
There is now a consensus that interest rates are going to be higher for longer, but there is less agreement about how much higher and how much longer, said Indermit Gill, chief economist, World Bank. In an interview with Deepshikha Sikarwar on the side lines of G20 finance ministers and central bank governors meeting in … Read more