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The World Bank’s projections say that average crude oil prices could reach $56 and $60 per barrel in 2021 and 2022.(File photo)

World Bank underlines inflationary tailwinds in 2021

By Roshan Kishore, New Delhi
PUBLISHED ON APR 30, 2021 01:34 AM IST
India’s retail inflation, as measured by Consumer Price Index (CPI) stayed above 6%, the upper limit of the Reserve Bank of India’s tolerance band in 10 out of 12 months in 2020.
A homeless man pushes his belongings at a homeless encampment at Echo Park Lake in Los Angeles, California. (AFP)
A homeless man pushes his belongings at a homeless encampment at Echo Park Lake in Los Angeles, California. (AFP)

Covid-19's deep scars on world economy will be visible even after recovery

Bloomberg |
PUBLISHED ON APR 18, 2021 10:05 AM IST
Not all countries will be affected equally. The International Monetary Fund sees advanced economies less affected by the virus this year and beyond, with low-income countries and emerging markets suffering more — a contrast to 2009, when rich nations were hit harder.
Pope Francis holds the weekly general audience at the Vatican, April 7, 2021.(Reuters)
Pope Francis holds the weekly general audience at the Vatican, April 7, 2021.(Reuters)

Pope tells IMF, World Bank to cut the debt of poor countries

Reuters | , Vaatican City
PUBLISHED ON APR 08, 2021 06:02 PM IST
In a letter to the participants of the International Monetary Fund and World Bank's annual spring meeting, the pope said the pandemic had forced the world to come to terms with interrelated socioeconomic, ecological, and political crises.
Going forward, the main risks to the outlook include the materialisation of financial sector risks, which could hit a recovery in private investment, and a new Covid wave, said World Bank.(Bloomberg)
Going forward, the main risks to the outlook include the materialisation of financial sector risks, which could hit a recovery in private investment, and a new Covid wave, said World Bank.(Bloomberg)

World Bank raises India’s GDP growth forecast to 10% in FY22

By Yashwant Raj, Washington
PUBLISHED ON APR 01, 2021 03:09 AM IST
WB expects the GDP to contract by 8.5% in FY21, higher than govt’s estimate of 8%
World Bank headquarters.(File photo)
World Bank headquarters.(File photo)

India, Bangladesh to aid South Asia's 'historical growth' by 2022: World Bank

Bloomberg |
UPDATED ON MAR 31, 2021 10:40 AM IST
The region is expected to grow by 7.2% this year after contracting an estimated 5.4% in 2020, the development lender said in a report Wednesday.
The White House is visible behind a man holding a Sudanese flag as Sudanese Americans rally outside the White House in Washington.(AP)
The White House is visible behind a man holding a Sudanese flag as Sudanese Americans rally outside the White House in Washington.(AP)

World Bank re-engages with Sudan following arrears clearance

Reuters |
PUBLISHED ON MAR 28, 2021 07:27 PM IST
Priority areas for the funds will be defined following meetings early next month, and allocations would take into account a peace deal signed last year, Ousmane Dione, World Bank country director for Sudan, said.
Yellen has given her qualified support for an new allocation of SDRs, reversing the opposition of the Trump administration. US support is critical for any boost in reserves since the United States is the IMF's largest shareholder.(REUTERS)
Yellen has given her qualified support for an new allocation of SDRs, reversing the opposition of the Trump administration. US support is critical for any boost in reserves since the United States is the IMF's largest shareholder.(REUTERS)

Yellen to meet Christian, Jewish religious leaders and Jubilee network director

Reuters |
PUBLISHED ON MAR 16, 2021 02:00 PM IST
The online meeting will focus on ways to increase resources to help poor and middle income countries contain the Covid-19 pandemic, permanent debt restructuring and climate change, said Eric LeCompte, executive director of Jubilee USA Network.
Intricacies during pregnancy connected to higher risk of death(Unsplash)
Intricacies during pregnancy connected to higher risk of death(Unsplash)

Women can be fired for pregnancy in 28 nations, says World Bank’s Reinhart

Bloomberg |
PUBLISHED ON MAR 08, 2021 08:54 AM IST
The pandemic has contributed to an increase in violence against women and is reinforcing gender inequality in many countries, with women on average having roughly three-quarters of the legal rights of men, according to the World Bank.
World Bank headquarters.(File photo)
World Bank headquarters.(File photo)

World Bank readies emergency vaccine funds for 30 African nations

Reuters |
PUBLISHED ON MAR 03, 2021 03:07 PM IST
Only a handful of African governments have launched mass vaccination campaigns, whereas some countries in wealthier parts of the world have already administered millions of doses.
World Bank President David Malpass said “a prominent risk for some of the countries at the bottom, and that has to do with the difficulty of getting new investment,”(Reuters)
World Bank President David Malpass said “a prominent risk for some of the countries at the bottom, and that has to do with the difficulty of getting new investment,”(Reuters)

Debt crisis threatens developing nations, says World Bank head

Bloomberg |
PUBLISHED ON FEB 25, 2021 08:19 PM IST
World Bank President David Malpass spoke before the start of a meeting of finance ministers and central bankers from the Group of 20 biggest economies on Friday.
Pandemic reinforces gender inequality, women have just 76% of men’s legal rights(Twitter/G3nderE)
Pandemic reinforces gender inequality, women have just 76% of men’s legal rights(Twitter/G3nderE)

Pandemic reinforces gender inequality, women have just 76% of men’s legal rights

Bloomberg |
UPDATED ON FEB 24, 2021 09:13 AM IST
In its annual report, the World Bank warns of Covid-19 pandemic reinforcing gender inequality in many countries, with women on average having just 76% of men’s legal rights in their economic opportunities like travel, disadvantages in parenting and retirement
Road crash deaths in India, which are the highest in the world, are a burden on its demographic dividend and have a tangible impact on poverty. (HT PHOTO).
Road crash deaths in India, which are the highest in the world, are a burden on its demographic dividend and have a tangible impact on poverty. (HT PHOTO).

Road crashes in India hike poverty, poor suffer more deaths: World Bank report

By Anisha Dutta
UPDATED ON FEB 13, 2021 08:07 PM IST
  • The report also brings out the sharp rural-urban divide and the disproportionate impact on women. Women bore the burden of crashes across poor and rich households, often taking up extra work, assuming greater responsibilities, and performing caregiving activities after a crash.
The project will cover the five most populous districts of southern West Bengal, including its urban agglomeration -- the Kolkata Metropolitan Area (KMA) where around 30 million people or one-third of West Bengal’s population live.(PTI | Representational image)
The project will cover the five most populous districts of southern West Bengal, including its urban agglomeration -- the Kolkata Metropolitan Area (KMA) where around 30 million people or one-third of West Bengal’s population live.(PTI | Representational image)

World Bank commits USD 105 million to improve West Bengal waterways

New Delhi | By Asian News International | Posted by Srivatsan K C
PUBLISHED ON JAN 06, 2021 11:54 AM IST
The USD 105 million loan from the International Bank for Reconstruction and Development (IBRD), has a maturity of 17 years, including a grace period of seven years.
World Bank Group President David Malpass said for some countries, it’s a red alert.(Reuters file photo)
World Bank Group President David Malpass said for some countries, it’s a red alert.(Reuters file photo)

World Bank sees more countries in ‘deep debt distress’ this year

Washington | By Reuters | Posted by Deepali Sharma
PUBLISHED ON JAN 05, 2021 09:53 PM IST
World Bank Group President David Malpass said the African oil producer Chad may need a deep reduction in the net present value of its debt.
India will overtake China to become the most populous country in 2023, when its population will reach 1.42 billion.(Reuters)
India will overtake China to become the most populous country in 2023, when its population will reach 1.42 billion.(Reuters)

The number theory: Imagining India, 10 years from now

Hindustan Times, New Delhi | By Vijdan Mohammad Kawoosa, Abhishek Jha and Vineet Sachdev
UPDATED ON JAN 05, 2021 03:18 PM IST
India’s first climate change assessment by the ministry of earth sciences (MoES), published in 2020. said that the climate change seen in the country since the middle of the 20th century is expected to continue in the future.
Wednesday’s report didn’t identify those responsible for the irregularities nor their possible motives.(PTI File Photo)
Wednesday’s report didn’t identify those responsible for the irregularities nor their possible motives.(PTI File Photo)

Ease of business ranking: World Bank staff pressured to ‘manipulate’ data

Hindustan Times, Washington/New Delhi | By HT Correspondent and Agencies
UPDATED ON DEC 19, 2020 02:30 AM IST
Members of the team that put together the Doing Business report cited undue pressure -- both directly and indirectly -- to manipulate data for 2018 and 2020, the World Bank said.
Migrants laborers from Uttar Pradesh state and their families trying to return to their villages walk towards a bus terminal in New Delhi, India, Sunday, May 10, 2020.(AP)
Migrants laborers from Uttar Pradesh state and their families trying to return to their villages walk towards a bus terminal in New Delhi, India, Sunday, May 10, 2020.(AP)

Covid-19: India signs $400 million project with World Bank to protect poor, vulnerable

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Arpan Rai
PUBLISHED ON DEC 16, 2020 10:29 PM IST
Officials stated that due to the Covid-19 crisis, risks of migrants and the urban poor have been brought to the fore along with the need for governments to strengthen preparedness for future disasters of this nature.
Tedros Adhanom Ghebreyesus, Director General of the World Health Organization (WHO), gives a statement to the media about the response to the Covid-19 virus outbreak, at the World Health Organization (WHO) headquarters in Geneva, Switzerland.(AP)
Tedros Adhanom Ghebreyesus, Director General of the World Health Organization (WHO), gives a statement to the media about the response to the Covid-19 virus outbreak, at the World Health Organization (WHO) headquarters in Geneva, Switzerland.(AP)

WHO vaccine scheme may leave poor countries with no Covid-19 shots until 2024

Brussels | By Reuters | Posted by Arpan Rai
UPDATED ON DEC 16, 2020 06:46 PM IST
The World Health Organization’s COVAX programme is the main global scheme to vaccinate people in poor and middle income countries around the world against the coronavirus.
A staggering two out of five women in South Asia have experienced intimate partner violence and Covid-19 has worsened the situation.(ANI)
A staggering two out of five women in South Asia have experienced intimate partner violence and Covid-19 has worsened the situation.(ANI)

Two out of five women in South Asia have experienced partner violence: World Bank

Asian News International | By Asian News International | Posted by Shivani Kale
UPDATED ON DEC 15, 2020 04:21 PM IST
A staggering two out of five women in South Asia have experienced intimate partner violence and Covid-19 has worsened the situation.
Between 2016 and 2020, World Bank Group said its institutions, including the International Finance Corp and the Multilateral Investment Guarantee Agency, provided over $83 billion in climate-related finance to developing countries.(Reuters file photo)
Between 2016 and 2020, World Bank Group said its institutions, including the International Finance Corp and the Multilateral Investment Guarantee Agency, provided over $83 billion in climate-related finance to developing countries.(Reuters file photo)

World Bank boosts target for climate-friendly financing to 35% over five years

Washington | By Reuters | Posted by Deepali Sharma
UPDATED ON DEC 10, 2020 10:33 AM IST
The multilateral development lender said half of the climate-related financing would be done by its main units - the International Bank for Reconstruction and Development and the International Development Association.
The formalisation of firms and employment has been encouraged through the introduction of GST and the new Labour Codes.(AP file photo)
The formalisation of firms and employment has been encouraged through the introduction of GST and the new Labour Codes.(AP file photo)

HTLS 2020: Defining a new era of growth and prosperity

New Delhi | By Amitabh Kant
UPDATED ON NOV 24, 2020 09:24 AM IST
The latest in the set of structural reforms is the introduction of the production linked incentives (PLI) schemes approved by the Cabinet a few days ago.
Malpass said World Bank was working closely with the G20 in countries affected by fragility, conflict and violence, including the Sahel, Somalia, Lebanon, Gaza and the West Bank.(Reuters)
Malpass said World Bank was working closely with the G20 in countries affected by fragility, conflict and violence, including the Sahel, Somalia, Lebanon, Gaza and the West Bank.(Reuters)

World Bank warns G20 against doing too little to tackle debt problems

Washington | By Reuters | Posted by Srivatsan K C
UPDATED ON NOV 22, 2020 04:55 AM IST
World Bank President David Malpass said he was pleased by progress made by the Group of 20 major economies on increasing debt transparency and providing debt relief to the poorest countries, but more was needed.
World Bank headquarters.(File photo)
World Bank headquarters.(File photo)

Beware of World Bank credit, debit cards. Here is why.

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON NOV 08, 2020 12:06 AM IST
The international financial institution said it issued the advisory after its attention was drawn to fraudulent issuance of debit and credit cards in India.
(Left) Former Haryana chief secretary DS Dhesi replaces Rajesh Khullar (right) as chief principal secretary to Haryana chief minister Manohar Lal Khattar.(HT Photo)
(Left) Former Haryana chief secretary DS Dhesi replaces Rajesh Khullar (right) as chief principal secretary to Haryana chief minister Manohar Lal Khattar.(HT Photo)

DS Dhesi appointed chief principal secretary to Haryana chief minister Manohar Lal Khattar

Hindustan Times, Chandigarh | By HT Correspondent
PUBLISHED ON OCT 19, 2020 04:01 PM IST
The former chief secretary resigned as Haryana Electricity Regulatory Commission chairman to replace Rajesh Khullar, who heads for a World Bank assignment in the US.
The government had announced the first stimulus of USD 23 billion to provide direct cash transfers and food security measures to poor, she said.(ANI)
The government had announced the first stimulus of USD 23 billion to provide direct cash transfers and food security measures to poor, she said.(ANI)

India took host of measures to combat Covid-19 impact: FM to World Bank

New Delhi | By Press Trust of India| Posted by Susmita Pakrasi
UPDATED ON OCT 16, 2020 10:11 PM IST
The Government of India has taken several measures to contain the spread of pandemic, and also to mitigate its social and economic impact, Sitharaman said.
Fiscal and monetary steps have helped cushion the world from an even uglier outcome, but the endgame can’t come until there’s a medical fix.(AP)
Fiscal and monetary steps have helped cushion the world from an even uglier outcome, but the endgame can’t come until there’s a medical fix.(AP)

Global economic pain from coronavirus is far from over: IMF

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON OCT 16, 2020 09:45 PM IST
The IMF forecast a 4.4% global contraction for this year, the deepest since the Great Depression but less than its prior estimate of 5.2% in June.
According to World Bank data China is owed almost 60% of the money that the world’s poorest nations are due to repay this year(REUTERS)
According to World Bank data China is owed almost 60% of the money that the world’s poorest nations are due to repay this year(REUTERS)

Top World Bank economist says financial crisis could emerge from coronavirus pandemic

By Bloomberg | Posted by Ayshee Bhaduri
UPDATED ON OCT 16, 2020 04:18 PM IST
Top World Bank Economist speaks out after the world’s richest nations agreed to renew a debt relief initiative for the poorest through at least the first half of 2021, falling short of the World Bank’s call for a full-year extension.
Given their heavy debt burdens, they are now struggling to maintain vital policy support. They need access to more grants, concessional credit, and debt relief, the IMF chief said.(AP)
Given their heavy debt burdens, they are now struggling to maintain vital policy support. They need access to more grants, concessional credit, and debt relief, the IMF chief said.(AP)

IMF recommends three policy priorities to overcome Covid-19 crisis

Washington | By Press Trust of India| Posted by Susmita Pakrasi
UPDATED ON OCT 14, 2020 08:14 PM IST
Releasing Global Policy Agenda at the start of the annual meetings of the International Monetary Fund (IMF) and the World Bank, Georgieva said three measures are needed to overcome the crisis and build a brighter future.
The International Monetary Fund in its annual World Economic Outlook significantly downgrades India’s growth for the fiscal year 2020 to minus 10.3 per cent.(REUTERS)
The International Monetary Fund in its annual World Economic Outlook significantly downgrades India’s growth for the fiscal year 2020 to minus 10.3 per cent.(REUTERS)

Indian economy will recover from coronavirus crisis with right policies: IMF official

Washington | By Press Trust of India| Posted by Susmita Pakrasi
PUBLISHED ON OCT 14, 2020 02:04 PM IST
He further said there is a need to tilt the composition of the fiscal support towards more of the direct spending and tax relief measures and to rely slightly less on the liquidity support measures, the credit guarantees, which are clearly important to support the provision of credit in the economy.
World Bank approved $12 billion in new funding for developing countries to finance the purchase and distribution of Covid-19 vaccines, tests and treatments for their citizens.(AP)
World Bank approved $12 billion in new funding for developing countries to finance the purchase and distribution of Covid-19 vaccines, tests and treatments for their citizens.(AP)

World Bank approves $12 billion for Covid-19 vaccines, treatments in developing countries

Washington | By Reuters | Posted by Prashasti Singh
UPDATED ON OCT 14, 2020 06:17 AM IST
The financing plan, part of $160 billion in total resources that the multilateral development lender has pledged to provide to developing countries through June 2021 to help them fight the coronavirus pandemic, was first reported by Reuters in late September.
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